US energy secretary sees oil market coming into balance
BEIJING- The US energy secretary says he sees the global oil market coming into balance over the next year as rising demand catches up with a supply glut that has depressed prices.
Ernest Moniz said Friday there still is more production than demand but consumption is catching up.
Moniz spoke after meeting with the Saudi oil minister. They were in Beijing for a meeting of energy ministers from the Group of 20 major developed and emerging economies.
