A view of the Khurais oilfield, about 160 km (99 miles) from Riyadh, June 23, 2008. Saudi Arabia’s oil output will edge up close to record highs in coming weeks to meet summer demand for power but is unlikely to be pushed to the limit and flood global markets, Saudi-based industry sources said. Production may rise to around 10.5 million barrels per day (bpd) during summer, the sources said. Supply in April has held steady to slightly lower at about 10.15 million bpd, said three industry sources who monitor Saudi output. The predictions may help ease market fears that Saudi Arabia could steeply add to a global glut after production-freeze talks in Qatar this month collapsed following Riyadh’s refusal to sign the deal without participation by Iran. Days before the meeting, Saudi Arabia’s top oil official, Deputy Crown Prince Mohammed bin Salman, said the kingdom could boost output immediately […]