Agreement Between Saudi Arabia And Kuwait To Stop Oil Production In The Khafji Field For A Month
Category:
BUSINESS
Kuwait and Saudi Arabia have agreed to halt oil production from the joint Al-Khafji field for one month, starting from June 1, Kuwait’s Al Rai newspaper reported on Saturday.
There was no immediate comment from Kuwaiti officials.
Saudi Arabia and Kuwait have agreed with other members of the OPEC+ group of oil producers to cut output in a bid to reduce a glut in global supplies. Both Gulf states have also said they would make additional cuts beyond the agreed curbs.
SOURCE : REUTERS
18 May, 2020
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