Saudi Arabia, the world’s biggest oil exporter, plans “significant growth” in output in 2016 and further international expansion, the head of the country’s state-run producer said, even as global oversupply contributed to a drop in crude prices from a year ago. Saudi Arabian Oil Co., also known as Saudi Aramco, will boost capacity at the Shaybah oil field by 33 percent to 1 million barrels a day in the next couple of weeks and will double natural gas production over the next decade, Amin Nasser, chief executive officer told reporters Tuesday at its headquarters in Dhahran, eastern Saudi Arabia. Amin Nasser Photographer: Eric Piermont/AFP via Getty Images “Even though it is challenging, it’s still an opportunity for us to grow,” Nasser said of the international expansion plans. Saudi Arabia is seeking to reduce its reliance on oil sales amid lower prices for its most lucrative export. As part of […]