Strong demand to rebalance oil market by early 2016: Kemp

April 22, 2015 6:08 PM

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Strong demand to rebalance oil market by early 2016: Kemp

LONDON (Reuters) - Global oil demand is set to rise by 1 million or even 1.5 million barrels per day (bpd) in 2015, according to a range of forecasters.

Coupled with a fall in shale output in the second half of the year, as the decline in the U.S. rig count takes effect, that should be enough to bring the oil market near to balance by early 2016.

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