Pandemic Puts Saudi-Kuwaiti Oil Plans On Ice

The market shock from the pandemic and the resulting crash in oil prices expectedly dragged down the net profit of the world’s biggest oil company and largest oil exporter, Saudi Aramco.   The 2020 year of COVID also upended the development plans of the Saudi state oil giant at the oilfields it co-owns with other countries in the Gulf. In early 2020, Saudi Arabia and Kuwait were preparing to significantly boost oil production in the so-called neutral zone between the two countries after ending a five-year spat over concessions. Both…