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Saudi Arabia and Kuwait are about to reach an agreement around the neutral zone, Bloomberg said. Anonymous sources said that significant progress has been made in resolving sovereignty issues.
A source continued to say that the two sides could meet in Kuwait this month after a June meeting in Riyadh.
However, even if oil production were to resume in the neutral zone, it may not have a significant impact on short-term production, as Saudi Arabia and Kuwait are linked to agreed nine-month production cuts. beginning of July.
Countries could shift more of their production to the neutral zone in order to fill the sour-sour crude supply gap left by the decline in production in Venezuela and Iran.
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