Saudi Aramco notified at least two European refiners it will halt all crude oil shipments for October. The decision follows a September 10 drone attack that disabled the kingdom’s East-West pipeline.
The attack damaged several pumping stations along the critical infrastructure used to bypass the Strait of Hormuz. This disruption contributed to Saudi Arabia’s crude oil production falling to a 30-year low.
European refiners are now seeking alternative supplies, with Poland’s Orlen reportedly issuing numerous replacement tenders. The supply cut coincides with Europe’s most significant surge in winter power prices since the last energy crisis.
Volatile natural gas markets and geopolitical instability continue to drive regional energy costs higher. Aramco is currently working to restore partial operations to the damaged pipeline.