Business · Energy & Commodities · 2 days ago

Saudi Aramco to supply European refiners with contracted oil volumes in November

Saudi Aramco to supply European refiners with contracted oil volumes in November

Saudi Aramco has told at least three European oil refineries they will receive all the crude oil they contracted for in November.

The supply is moving through the East-West pipeline, which has resumed operations after attacks disrupted it.

Last month, Aramco told European refiners they would receive no crude allocations for October.

The disruption led refiners to seek other supplies and added pressure to a tight European market.

Saudi Arabia typically exports an average of 700,000 to 800,000 barrels of crude oil a day to Europe.

Restored deliveries are expected to ease the supply pressure.

The next step is for the refiners to receive their November allocations.

Sources

Related news