The Partitioned Neutral Zone (PNZ) operated 50:50 by Saudi Arabia and Kuwait has so far escaped any production cuts in 2023, despite Opec+ agreeing to cut 2mn b/d of production from November 2022 (MEES, 7 October 2022).
661,000 b/d of the cuts are to be implemented by Saudi Arabia and Kuwait, yet so far they have chosen to cut production from their wholly-owned fields, rather than at the PNZ. Even with the pair combining for another 628,000 b/d of voluntary cuts from May, preliminary data from Kpler shows no indication of a reduction in exports from the PNZ. Some volumes may be from storage, but this is unlikely to be a significant contribution. (CONTINUED - 623 WORDS)
