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Saudi Arabia Cuts Europe Off From October Crude as Gulf Exports Surge

Saudi Aramco has told European term customers they will receive no Saudi crude in October, even as the kingdom pushes roughly 60 million barrels back through the Persian Gulf after damage to its East-West pipeline. At least two European refiners were told their October allocations are zero, Bloomberg reported Friday.

  • Saudi Arabia will withhold October crude shipments to Europe
  • Gulf exports to Asia will replace European allocations
  • Oil prices drop as Europe faces supply disruption

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