Bloomberg: Saudi Arabia will not supply oil to Europe next month due to attack on the countryʼs main oil pipeline

Saudi Aramco has told at least two European refiners that there will be no oil deliveries next month, following an attack on the countryʼs main East-West oil pipeline.

Bloomberg reports this, citing sources.

European customers usually receive oil from Saudi Arabia under so-called long-term contracts, which ensure stable monthly deliveries. These deliveries will not take place next month. According to sources, this decision applies to all European buyers.

Saudi Arabia suspended operations of the East-West pipeline last week after a drone attack from Iraq. It will be partially restarted within days and fully restored within six weeks.

European refineries typically receive Saudi oil through Egyptʼs Mediterranean port of Sidi Kerir, which is connected to the Red Sea by a pipeline. In June, European OECD countries imported 577 000 barrels of oil per day from Saudi Arabia, according to the International Energy Agency (IEA).

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