IEA chief says oil market to return to balance by 2017
TOKYO (Reuters) - International Energy Agency (IEA) chief Fatih Birol said on Thursday he expects the oil market to come back into balance from oversupply by next year, providing there are no major economic shocks.
Birol, who also said the IEA expects non-OPEC oil production to fall by about 700,000 barrels per day this year, was speaking after meeting Prime Minister Shinzo Abe.
(Reporting by Osamu Tsukimori; Writing by Aaron Sheldrick; Editing by Richard Pullin)