Expectations for a more balanced oil market next year

High rough to 47.50 dollars a barrel follow new morning: Abdullah Al-Badri, Secretary-General of OPEC, in a speech Monday that he expects to become more balanced oil market in 2016 with the continuing growth in demand.
He said in a speech published by the Web site '' is expected to return the market to a more balance in 2016. " We expect continued strong growth in global oil demand. Expect declining supply from non-OPEC. We expect increased demand for OPEC crude.», said UAE energy Minister Suhail Al mazroui Tuesday that world oil prices will begin an upward correction in 2016 because the markets began to regain its balance.
He said the UAE could not as one of the OPEC members to accept the loss of market share by reducing supply, indicating continued support for OPEC's strategy to defend market share through high production and low prices.
Mazrui said that falling oil prices will force the U.A.E. to reduce investment plans since proceed to increase production capacity to 3.5 million barrels a day.
Rose oil futures beyond 47.50 dollars a barrel on Monday after OPEC said it expected global demand to remain strong next year, while the market also was affected by weak Chinese trade data and fears of oversupply.
Oil received support from the dollar's decline to rising Brent December delivery 22 cents to 47.64 dollars a barrel after tumbling more than four percent last week.

Us crude rose delivery December 12 cents to 44.41 dollars a barrel after tumbling five percent last week.
Abdullah Al-Badri said, Secretary-General of the Organization of petroleum exporting countries was expected to become a more balanced oil market in 2016 with the continuing growth in demand.
The International Energy Agency said last month that the growth of global oil demand is heading to the highest level in five years in 2015 when the 1.8 million barrels a day but is expected to slow in 2016.
Meanwhile, an informed source said the oil trade today that Kuwait set the official selling price for December deliveries of crude oil destined for Asian buyers at less than $ 3.50 a barrel on average, the Sultanate of Oman and Dubai, Khami, up 0.30 us dollars from the previous month.
This remains a discount price of crude average Saudi Arabian crude unchanged at $ 0.60 per barrel in December as shown by Reuters calculations.
The price of Kuwaiti crude official November shipments less than 3.80 dollars per barrel on average of Oman and Dubai.
And Oman's oil Minister, said yesterday that the Sultanate is considering ways to reduce costs due to falling oil prices but not squeezed projects.
The Minister told Mohammed bin Hamad Al-romhi told Reuters on the sidelines of an Energy Conference in Abu Dhabi «we reduce costs but not reduce projects.» and said that production of the Sultanate of Oman is approaching 1 million barrels per day.