Aramco issues November oil supply details to European refineries
Aramco Saudi Arabia announced that it will supply the full contracted quantities of crude oil to European refineries in November, following the resumption of the main pipeline that was targeted by attacks. This move alleviates pressure on the European market, which is experiencing a supply shortage. Aramco had informed European refining companies in October that no volumes of crude would be allocated due to an attack on the pipeline, prompting companies to seek alternative supplies. Usually, Saudi Arabia exports between 700,000 and 800,000 barrels per day to Europe. The importance of resuming supplies lies in market stability and reducing pressure on European refining.
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