Saudi Oil Production Capacity Up; Actual Output Seen Unchanged

Saudi Arabia oil production capacity is about 3% bigger after a new field went into service, the kingdom said Wednesday, but actual output from the world’s biggest oil exporter is expected to continue at around the level seen for the past two years.

The kingdom said its production capacity, or the ability to bring oil output quickly into service, is now 11.3 million barrels a day after it began producing from the new Haradh field, which is pumping 300,000 b/d.
iWon