Warming ties between China and Russia are giving a big boost to Chinese imports of Russian oil, to the chagrin of OPEC nations jockeying for a slice of China’s market. Faced with falling prices and lower demand from the U.S., oil-exporting nations are increasingly putting their hopes in China’s still-robust demand for crude. But Saudi Arabia and other big producers like Venezuela have seen such sales drop as Moscow’s isolation from the West over Ukraine prompts it to turn to Beijing. The death of Saudi Arabia’s King Abdullah adds a measure of uncertainty to OPEC’s oil policies, which boosted prices in global oil markets after the news early Friday, though analysts say the kingdom is unlikely to change its strategy and reduce production. That is despite a global glut of crude that is fueling new rivalry […]