Reuters | Oil edges up as analysts say market could be closer to balance than expect... Reuters Traders said prices were receiving support from the notion that oil markets, which have been dogged by oversupply for two years, may be closer to balance than previously anticipated. Beyond estimating production and consumption, one way to gauge the ... US oil settles at $49.94 a barrel, down 41 cents, or 0.81% Trimming Oil Output Won't Keep OPEC States Afloat Crude Oil Price Forecast: Positioning & Volatility Favors Bulls |