Saudi Arabia’s Real Production Capacity: Is 15 Million Bpd Possible?

As the OPEC+ group prepares to roll back all production cuts by the end of next month, analysts and the market are searching for the answer to the million-dollar question shrouded in mystery: How much more oil can Saudi Arabia actually produce? And how much into spare capacity is the world’s top crude oil exporter willing to tap? Most analysts say that the UAE and Saudi Arabia are unlikely to tap much into their spare capacity regardless of the U.S. push for more oil. After all, a razor-thin global capacity cushion would make supply shocks…