Saudi Aramco halts crude oil supply to European customers
The decision affects all European term-contract buyers as Saudi Arabia’s East-West pipeline remains shut after drone strikes, disrupting a steady monthly supply.
27 Articles
27 Articles
Saudi Aramco has told at least two European refining customers that it will not be able to ship crude in October after its East-West pipeline to the Red Sea was attacked on September 10. The situation is made worse by the fact that the market for refined products, especially diesel, has been stretched for months, partly due to the loss of Russian refining capacity and strong US demand.
European customers normally receive oil from Saudi Arabia through long-term contracts that guarantee regular volumes every month.
Saudi Arabia will suspend oil deliveries to European refineries next month, following attacks on its East and West pipelines, Bloomberg reports. This decision applies to all European customers, points out the cited source.
Saudi Aramco will not supply raw materials to European refineries in October, reporting to Bloomberg on Friday with reference to sources.
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