Saudi Arabia Slashes Oil Supplies to Europe After Pipeline Attack

Saudi Arabia has reduced its crude oil supplies to Europe following a drone attack on the East-West pipeline, according to unnamed sources who spoke to Reuters.

The attack, which occurred last Thursday, September 10, damaged infrastructure along the pipeline and was launched from Iraqi territory by groups supported by Iran.

Saudi Arabia informed its European customers that some crude oil shipments scheduled for September would be canceled, as well as suspended oil shipments at the port of Yanbu on the Red Sea.

This move has prompted major buyers like Poland to seek alternative suppliers, as oil prices have exceeded $120 per barrel.