Opec Sees Oil Market Rebalancing, Warns of Rising Stocks

摘要

Opec Secretary-General Abdalla el-Badri predicted Monday that an oil market rebalance was likely by the end of the first quarter of 2015, but accepted that another price collapse could be triggered by a buildup of global oil inventories. "After the end of the first half of 2015, the picture will be clearer. After six months we will see how things develop," el-Badri said. Benchmark Brent crude traded around $49 per barrel on Monday, down by more than $65 since June and almost $30 since Opec's November meeting where it decided to leave output unchanged despite the price fall.