Saudi Aramco halts crude deliveries to Europe after Red Sea pipeline attack

After a drone strike damaged three pumping stations on its East-West Pipeline, Saudi Aramco informed European refining customers that no crude oil will be delivered next month. The pipeline, spanning 1,200 km across the Arabian Peninsula, has been a key alternative route for Middle Eastern oil while the Strait of Hormuz stayed largely closed. Saudi authorities blamed Iranian-backed militias operating from Iraq for the attack and shut the line as a precaution.

The suspension affects all European buyers, prompting companies like Poland’s Orlen SA to issue multiple tenders for replacement crude. In June, European OECD nations imported about 577,000 barrels per day of Saudi crude, according to the International Energy Agency. The pipeline normally transports between 4 million and 5 million barrels daily, accounting for roughly 4-5 % of worldwide oil supply.