Sunday, May 17, 2020

Continuing To Draw Tweets And Re-Tweets -- Kuwait / Saudi ArabiaTo Shut Shared Field Just Months After Re-Opening -- May 17, 2020

This story continues to draw tweets and re-tweets: Kuwait, Saudi Arabia to shut shared Al-Khafji field justmonths after re-start.
The shutdown comes just months after both countries agreed to resume production at the Neutral Zone. Total production at the Neutral Zone, which comprises the offshore Al-Khafji and onshore Wafra fields, was 260,000 b/d in April, with each country sharing output 50-50. Kuwait's share of the Wafra field was 60,000 b/d at the time and the Al-Khafji share was about 70,000 b/d, signaling the shut down will remove about 140,000 b/d from the market.
"There are simply no buyers. This is why everybody is volunteering cuts," the source said.

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