<p>Kuwait announced Friday it will export its first crude shipment from oilfields in a shared neutral zone with Saudi Arabia that had been shut for five years due to a dispute.</p>.<p>Oil Minister Khaled al-Fadhel said that around one million barrels will be loaded on Saturday and Sunday onboard a Kuwaiti tanker "whose final destination will be the Asian markets", according to the official Kuwait News Agency (KUNA).</p>.<p>Saudi Arabia and Kuwait signed an agreement in December to resume pumping at two major oilfields in the shared neutral zone that had been closed due to a disagreement between the neighbours.</p>.<p>The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later.</p>.<p>Riyadh said at the time that the decision was due to environmental issues.</p>.<p>The oil produced in the neutral zone in the border area is shared equally between the two nations.</p>.<p>The announcement comes as Saudi Arabia ramps up supply amid a price war with Russia that has sent oil prices crashing to 18-year lows as demand slides amid the coronavirus pandemic.</p>
<p>Kuwait announced Friday it will export its first crude shipment from oilfields in a shared neutral zone with Saudi Arabia that had been shut for five years due to a dispute.</p>.<p>Oil Minister Khaled al-Fadhel said that around one million barrels will be loaded on Saturday and Sunday onboard a Kuwaiti tanker "whose final destination will be the Asian markets", according to the official Kuwait News Agency (KUNA).</p>.<p>Saudi Arabia and Kuwait signed an agreement in December to resume pumping at two major oilfields in the shared neutral zone that had been closed due to a disagreement between the neighbours.</p>.<p>The two fields were pumping some 500,000 barrels per day before production was halted, first at Khafji in October 2014 and then at Wafra seven months later.</p>.<p>Riyadh said at the time that the decision was due to environmental issues.</p>.<p>The oil produced in the neutral zone in the border area is shared equally between the two nations.</p>.<p>The announcement comes as Saudi Arabia ramps up supply amid a price war with Russia that has sent oil prices crashing to 18-year lows as demand slides amid the coronavirus pandemic.</p>