[size=36]For a month ... Kuwait and Saudi Arabia agree to stop production in the joint Khafji field[/size]
, Kuwaiti newspaper "Al-Rai" reported that the governments of Kuwait and Saudi Arabia have agreed to stop oil production in the joint Khafji field.
Today, Friday, the newspaper quoted sources as saying that the agreement will enter into force on June 1, 2020, after the Gulf countries go to additional production cuts for a month initially.
The sources said that the stopping of production is estimated at 80 thousand barrels per day, of which 40 thousand barrels are Kuwait's share.
On May 11, Saudi Arabia announced that it had decided to voluntarily reduce its oil production for the month of June by one million barrels per day, which immediately reflected on the prices of "black gold", which immediately rose by more than 5%.
Subsequently, Kuwaiti Oil Minister Khaled al-Fadil revealed that his country would voluntarily reduce its oil production by 80,000 barrels per day in June, above its commitment under the "OPEC +" agreement.