OPEC Chief sees high risk of oil squeeze amid bullish demand
Global oil markets face a high risk of a supply squeeze this year as demand remains resilient and spare production capacity dwindles, the new head of OPEC said.
Fears over slowing consumption in China and the wider world – which have pushed crude prices 16% lower this month – have been exaggerated, OPEC Secretary-General Haitham Al-Ghais said.
