China to build oil inventory with more Saudi supplies

RIYADH: When Chinese President Hu Jintao landed in Riyadh earlier this week, he carried a special brief – China wanted more Saudi oil. And agreements signed during the visit included enhancing cooperation in oil, gas and mining.

The energy aspect of the visit was interesting in more than one ways. It occurred at a time while the world is literally brimming with crude. When former US president Bush visited Riyadh twice with the same request, the environment was completely different. Prices then were going up and up and the US felt like doing something to rectify the scenario somehow. Bush thought of influencing the supply side of the balance, as the easiest way out of the imbroglio.


Now it