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Saudi-Kuwaiti Neutral Zone October Oil Output Rose to Highest in 2023

OIL

Crude oil production from the Neutral Zone shared by Saudi Arabia and Kuwait rebounded to 264kbpd in October, the highest level so far this year, after the restart of the Khafji oil field according to S&P Commodity Insights.

  • Output from the zone fell to 180kbpd in September, after the offshore Khafji field was halted due to a fire on 10 August. The field resumed production in early September.
  • Exports mainly headed to China in October at 117kbpd, up from 65kbpd in September.
  • Crude output from the Neutral Zone is around half of the approximately 500kbpd it averaged prior to a dispute between the two countries which resulted in a shut-in of production between 2015 and 2020.
Energy BulletsCommodities
Energy BulletsCommodities

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