Saudi Arabia cancels oil shipments to European refineries
Saudi Arabia cancels oil shipments to European refineries Saudi Arabia has informed at least two oil refining customers in Europe that they will not receive crude oil allocations in October, as the war in the Middle East hits global energy markets. European refineries buy Saudi Arabian crude under term contracts meant to ensure a standard monthly supply, but energy companies can cancel those…
Saudi Arabia has announced the cancellation of oil shipments to European refineries in October due to the ongoing conflict in the Middle East, impacting global energy markets. The country, which supplies crude oil to European refineries under term contracts, can cancel shipments under extraordinary circumstances known as force majeure. Earlier this month, Qatar extended its force majeure for liquefied natural gas shipments to early November due to the maritime blockade of the Strait of Hormuz.
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