Saudi Aramco Cancels European Oil Shipments After Pipeline Attacks

Saudi Aramco canceled October crude oil allocations for all European refining customers following drone attacks on the kingdom's East-West pipeline. The facility, also known as Petroline, transports crude from eastern production areas to the Red Sea coast, providing a critical route for shipments to bypass the Strait of Hormuz.

Saudi Aramco expects the pipeline to resume partial operations within days and return to full capacity within six weeks. However, the immediate suspension has disrupted supply chains for European OECD members, who imported an average of 577,000 barrels per day of Saudi crude in June.

The supply gap has forced European refiners to seek alternative sources. Polish refiner Orlen has issued more than 10 tenders since Friday to secure replacement barrels to maintain operations.