Saudis to Supply Oil to China Strategic Reserves – Sources

China is in talks with Saudi Arabia over importing oil to fill its planned strategic reserves – building on an April meeting between their two heads of state, Chinese and Gulf sources familiar with the situation said.

A deal would see large volumes of Saudi crude imported by China, although the first shipments would be unlikely to take place before the end of this year, a senior Chinese industry official told Dow Jones Newswires.