OPEC forecast on Monday that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the erosion of a supply glut. In a monthly report, the Organization of the Petroleum Exporting Countries said its current production is lower than the average forecast demand for its crude in the second half of 2016. The last full quarter when OPEC pumped less than demand for its crude was in 2013, according to past OPEC reports. Oil has risen to $50 a barrel from a 12-year low of $27 in January as the outages curb excess supply. These, say OPEC, are accelerating a tightening in the market it expected to happen anyway, as lower prices finally […]