Substantially lower oil prices are on the way to rebalancing the oil market, as demand accelerates and both shale and other non-OPEC oil production turns down. But how quickly the rebalancing is completed depends critically on whether rapid demand growth reported in the first half of 2015 can be sustained in the second half of the year and into 2016. A fragile global economy threatens the progress of rebalancing, Gary Ross, chief of PIRA Energy Group, told the Financial Times in an interview published on Wednesday. Global oil demand is forecast to rise by 1.7 million barrels per day (bpd) in 2015, according to the International Energy Agency (IEA), which would be the fastest annual increase for five years. The secretariat at the Organization of the Petroleum Exporting Countries […]