Saudi Arabian state-owned Saudi Arabian Oil Group (Saudi Aramco) will reduce crude oil supplies to European refiners under long-term contracts at the end of September. This is reported by foreign media.
The decision, which concerns all European oil buyers, was made as a result of the attack on the key Saudi East-West oil pipeline leading to the Red Sea.
European clients receive Saudi oil under term contracts with a guarantee of stable monthly supplies. As a result of the lack of supplies from Saudi Arabia, they will have to turn to alternative sources of oil.
Aramco plans to reach full capacity within six weeks. Due to the pipeline shutdown, Aramco offered spot deals to customers in Asia with the condition of immediate delivery.
In June, European countries imported 577,000 barrels of crude oil per day from Saudi Arabia. In 2025, Saudi Arabia supplied about 9.6 million barrels per day.
Saudi Arabian Oil Group (Saudi Aramco) is the national oil company of Saudi Arabia and one of the largest oil companies in the world in terms of oil production and oil reserves. The company provides 12% of the world's oil reserves, 10% of production, 14% of exports and 80% of revenues to the budget of Saudi Arabia/ The headquarters is located in Dhahran.
