The surplus in global crude supply is less than the 1.8 million barrels a day Kuwait estimated it to be last month, and prices will continue to recoup losses, Oil Minister Ali Al-Omair said. “We were expecting oil prices to recover in the second half, but they recovered faster than what we expected,” Al-Omair said at an industry conference in Kuwait City. “I expect oil prices to keep improving.” Brent crude futures, a benchmark for more than half of the world’s oil, gained 6.3 percent in London this year, after plunging 48 percent in 2014. The contract rose as much as 80 cents in trading Monday and was at $60.88 a barrel at 9:18 a.m. on the ICE Futures Europe exchange. Rising U.S. supply is contributing to a worldwide crude surplus. Qatar and the United Arab Emirates, OPEC members like Kuwait, estimated the excess at 2 million […]