Saudi Arabia’s oil giant Saudi Aramco is expected to pick up an additional 550,000 bpd of oil production capacity from two giant oil fields in the fourth quarter, so it would be able to increase production if there’s demand, Reuters reported on Thursday, quoting a source familiar with the plans. If Aramco does manage to bring that capacity online, it could give Saudi Arabia another half a million barrels of oil per day of spare capacity at a time when the oil market is expected to tighten with Iranian oil barrels coming off the market with the return of the U.S. sanctions in early November. According to Reuters’s source, the capacity of the giant Khurais oil field will be expanded by between 250,000 bpd and 300,000 bpd, to reach 1.5 million bpd . Another 300,000 bpd of capacity will come from the Manifa oil field, which has a current […]