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Kuwait and Saudi Arabia agreed late last year to settle their dispute over the Neutral Zone oil fields of Wafra and Khafji. The two countries have begun a joint production operation that estimated to reach as high as 550,000 barrels per day by the end of 2020. Kuwait also announced it was revising the country’s oil strategy and hoped to boost its production capacity to 4 million bpd by 2040.

Kuwaiti Oil Minister Announces the Beginning of Joint Oil pumping venture with Saudi Arabia

Kuwait and Saudi Arabia agreed late last year to settle their dispute over the Neutral Zone oil fields of Wafra and Khafji. The two countries have begun a joint production operation that estimated to reach as high as 550,000 barrels per day by the end of 2020.

Kuwait also announced it was revising the country’s oil strategy and hoped to boost its production capacity to 4 million bpd by 2040.

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