November 13, 2017 / 7:15 AM / 3 months ago

Oil market rebalancing at accelerating pace - OPEC secretary-general

ABU DHABI (Reuters) - The oil market is rebalancing at an accelerating pace, as global levels of oil inventories have fallen visibly and demand for oil is robust, OPEC Secretary-General Mohammad Barkindo said on Monday.

Speaking at an energy industry conference, Barkindo said he was confident that both the oil industry and the global economy were benefiting from the deal to cut output among major producers.

Reporting by Maha El Dahan, Aziz El Yaakoubi, Stanley Carvalho and Rania El Gamal; Writing by Andrew Torchia

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