Aramco Cuts Oil Shipments to Europe Amid Pipeline Damage
Saudi Arabia's Aramco is reducing its oil shipments to Europe in October due to a recent drone attack that damaged its East-West pipeline. The pipeline, which transports crude oil from the kingdom's eastern province to the west coast, was shut down by the drone strike last week.
Aramco plans to skip its contracted monthly shipments for at least two European refiners next month, according to unnamed sources close to the situation. The supply change is expected to be temporary, as Aramco aims to partially restore pipeline operations by next week and resume full capacity by mid-November.
The attack, which occurred on September 11, was launched from Iraq, although no group has formally claimed responsibility. European customers are now scrambling to make ends meet for energy in October due to the reduced supply.