Saudi Arabia Looks To Sidestep OPEC+ Output Cuts With Dark Inventory | OilPrice.com

Joint oil projects in the PNZ provide Saudi Arabia with extra crude it can sell ‘off the radar’

- Aug 01, 2023, 6:00 PM CDTThe current OPEC+ output cuts have significantly raised the price at which Saudi Arabia can sell its crude.

The PNZ covers a 2,230 square mile area where Saudi Arabia’s northeastern border meets the southeastern border of Kuwait. It is thought to contain reserves of around 30 billion barrels of oil and 60 trillion cubic feet of gas and is home to the onshore fields of Wafra, Fuwaris, and Humma, and the offshore fields of Khafji, and Hout, among others. The offshore Khajfi field is operated by Saudi Arabia’s Aramco Gulf Operations Co. and Kuwait Gulf Oil Co. , a unit of Kuwait Petroleum Corp.

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