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OPEC Chief Sees High Risk of Oil Squeeze Amid Bullish Demand

  • Haitham Al-Ghais says Chinese consumption fears are overdone
  • Oil market could comfortably absorb extra Iranian supplies
Haitham al-Ghais at the OPEC headquarters in Vienna, Austria, on Aug. 17.

Haitham al-Ghais at the OPEC headquarters in Vienna, Austria, on Aug. 17.

Photographer: Akos Stiller/Bloomberg

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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.