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2026-09-18 21:32:09
[Saudi Aramco Notifies European Refining Customers No Crude Oil Allocation Next Month] ⑴ Saudi Aramco has notified at least two European refining customers that it will not allocate any crude oil to them next month, according to sources familiar with the matter. ⑵ European customers typically obtain Saudi crude oil through so-called periodic contracts, ensuring a stable monthly supply. Sources indicate that this crude oil will not be delivered next month. They stated that this decision applies to all European buyers. ⑶ Saudi Aramco did not immediately respond to requests for comment. ⑷ Saudi Arabia was forced to shut down its east-west pipeline last week following a drone attack. Sources indicate that the pipeline is expected to partially resume operation within days and fully resume operation within six weeks. ⑸ European refineries typically receive Saudi crude oil from the Egyptian Mediterranean port of Sidi Kirill. The pipeline shutdown has triggered panic buying among some of Saudi Aramco's customers. Poland's Orlen SA has issued more than a dozen tenders since Friday in an attempt to secure alternative supplies. (6) The International Energy Agency stated in its monthly Oil Market Report that in June, European countries in the OECD imported 577,000 barrels of crude oil per day from Saudi Arabia.
