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  • Global demand for oil better than expected, but it could take 2018 to even out market, economist says

     

    GRAND FORKS—Demand and costs in the oil industry are doing better than expected, but it could take another year before the global market rebalances itself, an expert in the field said Thursday.

    “We do see the market rebalancing,” ConocoPhillips chief economist Helen Currie told attendees of the annual North Dakota Petroleum Council meeting in Grand Forks. “It is taking longer than a lot of analysts had been projecting, but we do see the market coming back into balance by the end of 2018.”

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