Saudi-Kuwaiti accord paves way for resumption of oil production.

 
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DUBAI -- Saudi Aramco said on Wednesday a new agreement between Saudi Arabia and Kuwait paves the way for the resumption of oil production in the Neutral (partitioned) Zone shared by the two countries. Saudi Minister of Energy Prince Abdulaziz bin Salman and Kuwaiti Foreign Minister Sheikh Ahmad Nasser alMohammad al-Sabah signed on Tuesday an agreement and a memorandum of understanding in Kuwait, state news agency KUNA said.

The two OPEC members halted production at the jointly operated Khafji and Wafra fields, which together produce some 500,000 barrels of oil a day (bpd) or up to 0.5pc of the world's oil supply, in 2014 and 2015, respectively. 'With the signing of this new accord, both parties have...

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