Bloomberg: Saudi Aramco will supply full quantities of oil to its customers in Europe next month

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Saudi Aramco informed European oil refineries that it will provide them with the full quantities of crude oil they requested for the month of November, after resuming operation of the main pipeline linking the eastern and western regions of the Kingdom, following attacks, in a move that provides a relief to customers. At least three European refineries will receive their full quotas of crude oil from the state-run Saudi Oil Company next month. The resumption of supplies would ease the scarcity of supply in the European market, according to what Bloomberg reported.

Aramco informed European refineries last month that it would not allocate any quantities of crude oil to them in October, following an attack targeting the East-West pipeline. The decision prompted companies to secure alternative shipments. Orlin Company, the largest buyer of Saudi crude oil, issued more than ten tenders to purchase replacement oil quantities, before Aramco returned and announced its intention to supply the full quantities of oil to Europe next month. Saudi Arabia usually exports an average of between 700,000 and 800,000 barrels per day of crude oil to Europe, according to ship tracking data collected by Bloomberg.