Saudi Arabia to halt crude supplies to European refiners in October

Saudi Arabia to halt crude supplies to European refiners in October

Saudi Arabia’s state oil company Saudi Aramco has told at least some European refiners that they will receive no Saudi crude next month following the shutdown of the kingdom’s East-West oil pipeline, Bloomberg reported. 

The disruption follows attacks that damaged three pumping stations along the 1,200-kilometre East-West pipeline, which had been carrying about 4 million to 5 million barrels of crude a day to the Red Sea port of Yanbu. 

Earlier today, reports said that King Fahd Port in Yanbu was targeted by Houthi ballistic missiles. 

European OECD countries were importing about 577,000 barrels per day from Saudi Arabia as of June, according to International Energy Agency data cited by Bloomberg. 

Saudi Arabia has been seeking alternative routes, including increased shipments through the Strait of Hormuz, while repairs to the pipeline are expected to take weeks.