Saudi oil giant Aramco has notified European customers that it will not supply crude oil in October, following ongoing damage to the East-West Pipeline, reports say. In September, Aramco similarly canceled shipments to Europe after the pipeline was damaged by drone strikes, as The Zioneer reported.
Saudi Aramco has notified European customers that crude oil shipments will not be supplied in October, according to reports. The decision follows damage to the East-West Pipeline, the kingdom's strategic artery that bypasses the Strait of Hormuz and supplies the Red Sea port of Yanbu.
Earlier this month, reports indicated that Aramco canceled a significant portion of September crude shipments to Europe due to the same pipeline damage, as The Zioneer reported. The pipeline was hit by multiple drone attacks in mid-September, forcing a temporary shutdown. Repair estimates ranged from five to six weeks, according to Reuters, raising concerns about prolonged global supply disruptions.
The exact duration of the October halt and whether it will extend to other regions remains unclear. European refiners that rely on Saudi crude now face a tightening market amid concurrent disruptions to Iranian exports via the Strait of Hormuz.
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