Demand rise, output cuts could mean oil market balance in June

LONDON (Reuters) - Recovering demand as coronavirus lockdowns ease combined with output cuts by top producers could balance global oil markets as soon as June, some analysts and banks predict."Bullish sentiment continues to gather momentum as we move closer to June, when ... the global crude balance is set to reach net short territory, to the tune of a non-negligible 1.5 million barrels per day (bpd), its tightest point since August 2019," JBC Energy said.(Graphic: Demand/supply balance,..