Saudi Aramco Halts October European Long-Term Oil Supply

Saudi Aramco is reportedly not supplying oil to European long-term contract customers for October due to pipeline damage. The company is expected to sell approximately 60 million barrels in September-October shipments. Oilprice cited a trading source on October 18, reporting that Saudi Aramco has informed at least two European refiners that no October allocated oil will be available. The eastern and western pipelines of Saudi Arabia were reportedly halted following drone attacks. Oilprice also noted that Saudi Aramco plans to sell around 60 million barrels from Ras Tanura in September-October shipments, with some cargo being transshipped near Sohar, Oman. Most of this volume has been secured by Chinese and domestic refiners, with some cargo also destined for Japan and India.