Oil & Gas

The countries will stop production for a month as part of measures to reduce oil output

Kuwait and Saudi Arabia will halt oil production in the neutral zone in June for one month, Abdullah al-Sumaiti, acting head of Kuwait Oil Gulf told KUNA news agency.

The offshore Khafji oilfield had partially resumed production in March following a five-year pause due to disputes between to two countries, after an agreement was signed in December 2019.

In April, OPEC and its allies agreed to cut output by 9.7 million barrels per day amid the coronavirus pandemic.

Many Gulf countries, including Saudi Arabia, the United Arab Emirates, and Kuwait, have pledged additional cuts on top of their OPEC commitments.

The neutral zone also invlude onshore Wafra field, which has not started up production.

Saudi and Kuwait to halt neutral zone production in June -oilandgas360

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