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Pub Date:May 22,2020 | Views:703 |
Kuwait and Saudi Arabia suspend production of Al-Khafji oil fields in the neutral zone
Dow Jones ,18 May 2020 Kuwait and Saudi Arabia have agreed to suspend the production of crude oil from Al-Khafji fields jointly operated in the neutral zone.
OPEC members such as Saudi Arabia and Kuwait reached a historic cut-off agreement in april with non-oil producers such as Russia to help ease the severe oversupply in the global oil market.
Saudi Arabia and Kuwait both said they would further increase production cuts in June on the basis of quotas agreed in the cut-off agreement.
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