Global supply squeeze to ease with China/Saudi ties

"The non-OECD countries are now where the future of oil demand growth resides, and demand is growing rapidly," says Simon Wardell, director of global oil at research consultancy IHS Global Insight. "This is a problem for everyone if supply cannot respond. The big issue is ensuring enough global capacity to meet global demand.Closer Chinese relations with the Saudis might help bring this about," he adds.

China's move to secure more imports from Saudi Arabia is the latest in a line of field and pu

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