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Aramco Notifies Europe of October Oil Cut
Saudi Aramco has informed European refineries that it will cease oil supplies in October due to damage to the East-West pipeline, which was halted following an attack by drones launched from Iraq that resulted in damages and injuries in Saudi Arabia. The East-West pipeline, stretching approximately 1,200 kilometers from Dammam to Yanbu, is one of Saudi Arabia's most vital oil transportation routes, with a capacity of around 7 million barrels per day. This step comes as Saudi Arabia seeks to restore half of its pipeline’s capacity within days, amid concerns over the impact of its stoppage on global oil exports—especially with crude prices exceeding $107 in the London market—and against the backdrop of disturbances in the Strait of Hormuz and increased demand for supplies.
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