Saudi Arabia And Kuwait Are Finally Ready To Restart Their 500,000 Bpd Oilfields

Saudi Arabia and Kuwait, which share two oilfields that have not been pumping oil for five years, have authorized the restart of one of those oilfields as early as Sunday, Bloomberg News reported on Thursday, quoting an internal memo it has seen. Saudi Arabia and Kuwait have given the go-ahead to the resumption of oil production from the Wafra oilfield, which has been out of operation since May 2015, due to a dispute between the two neighboring countries. At the end of 2019, Saudi Arabia and Kuwait reached an agreement to resume oil production…