HOUSTON, Jan 7 - Hess CEO John Hess on Tuesday said he

sees the oil market as closer to being balanced than

oversupplied this year, despite worries about demand from China

and greater production from U.S. and non-OPEC producers.

He offered an optimistic view of the shale oil market and

Hess' own prospects in Guyana, in remarks to investors at the

Goldman Sachs Energy, CleanTech and Utilities Conference in

Miami.

"Demand is a little more robust than people thought," said

Hess, adding that the analysts were looking at projected

inventory builds of a million barrels per day, which has been

cut by half.