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TODAY IN ENERGY: U.S. crude oil production surpassed 12 million barrels per day in April


  • The Wafra field was discovered in 1953, and in 1960, Japan's Arabian Oil Company (which held an offshore concession awarded by Saudi Arabia in 1957 and another awarded by Kuwait in 1958) discovered the giant Khafji offshore field.
  • The unique status of the Neutral Zone is exemplified by its structure – its largest onshore oil field (Wafra) is operated by Chevron, the only remaining place in Saudi Arabia and Kuwait where a major asset is held by an international firm.
  • More tit-for-tat moves escalated and eventually Saudi Arabia shut down Khafji in October 2014 and the entire Neutral Zone in May 2015, removing 500,000 b/d of crude oil from the market in one fell swoop.



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