| Oil markets are expected to rebalance in the second half of this year as oil supplies decrease due to massive cuts in capital expenditure by oil and gas companies, analysts said.
From less than $30 (Dh110) per barrel in January, oil prices have recovered and moved towards $50 per barrel with Brent trading at $48.50 on Friday due to optimism that global oil glut will ease. “We believe under normal conditions towards the end of this year, second half of this year but latest 2017, markets will rebalance,” International Energy Agency (IEA) chief Fatih Birol said on Sunday...............................................Full Article: Source
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