| Oil prices could continue to rebound in the second half of 2015 following signs of growth in demand and a drop in high-cost production, an Opec official said yesterday. "It is expected that a kind of a balance will exist in the oil market in the second half of 2015 which will support prices," Kuwait's governor at Opec Nawal Al Fuzai told reporters. "Prices are improving, growth in supplies from outside Opec - especially shale oil - is lower than before and demand is recovering."
This has pushed both the Organisation of Petroleum Exporting Countries and the International Energy Agency to adjust upward their forecasts for crude demand, Fuzai said. She said it was too early to predict any decision by Opec at its meeting next month...............................................Full Article: Source
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