Kuwait sees oil output in zone shared with Saudi at 250,000 bpd 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. (Courtesy: SPA)

Kuwaiti oil output in the Neutral Zone it shares with Saudi Arabia is expected to reach 250,000 barrels per day 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 in a deal which will allow production to resume at two oilfields that can pump up to 0.5 percent of the world’s oil supply.

Last Update: 12:17 KSA 15:17 - GMT 12:17