China’s falling oil output and sliding U.S. production may help rebalance a market struggling to recover from the worst price crash in a generation, according to Standard Chartered Plc. Output from China, the world’s fifth-largest producer, will average 4.05 million barrels a day this year, down about 253,000 barrels a day from 2015, analysts at the bank including Nicholas Snowdon wrote in a research report. The Energy Information Administration last month trimmed its U.S. crude production outlook for this year to 8.6 million barrels a day. “China cannot rebalance the global oil market on its own, but China and the U.S. together are doing most of this work,” the analysts wrote. “The swing from growth to decline in domestic output means that China’s net pull on the oil market will likely increase this year, despite slower demand growth.” Brent crude, the global benchmark, has rallied about 60 percent from […]