OPEC star Saudi Arabia looks to raise oil export capacity

Last weekend OPEC’s star crude oil exporter Saudi Arabia called apon top oilfield service firms to help the country quickly boost its oil rig count by 30 percent to help give Saudi Arabia additional capacity to export oil as the world faces tighter supplies. Saudi Arabian state run oil giant Aramco met with leading oil service companies and announced plans to quickly expand its oil rig count to ensure it has extra production capacity, and in turn, exports. “The rig count leap is likely imminent, and expected to accelerate in the second half of 2011 and into 2012.