Expect oil supply to balance by 2017: IEA chief
The international oil market is expected to come back into balance from oversupply "at the turn of this year or latest 2017", International Energy Agency (IEA) chief Fatih Birol said on Thursday. Oil production from non-OPEC countries is expected to fall by 700,000 barrels per day this year, the sharpest fall in 25 years, he added.