Promising oil output in zone shared with Saudi by end 2020

The Neutral Zone agreement was signed in Kuwait by Prince Abdulaziz bin Salman, Saudi Arabia’s Minister of Energy, and Sheikh Dr. Ahmed Nasser al-Mohammed, Kuwaiti Foreign Minister.

Kuwait sees oil output in zone shared with Saudi at 250,000 bpd by end 2020.

Kuwaiti oil output in the Neutral Zone it shares with Saudi Arabia to reach 250,000 bpd when production restarts at the end of this year, the country’s oil minister said on Thursday.

Kuwait and Saudi Arabia agreed last year to end a five-year dispute over the area. This came in a deal allowing production to resume at two oilfields that can pump up to 0.5% of the world’s oil supply.