Saudi delivery cancellations to Europe may shift refiners’ crude sourcing
Market talk says Saudi Arabia cancelled October deliveries to Europe after damage to its East-West pipeline, prompting expectations that European refiners may seek alternative crude grades from West Africa, Mexico and Guyana. Replacement cargoes are not expected to arrive before October’s start.
European refiners are likely to source more West African, Mexican and Guyanese crude after Saudi Arabia reportedly cancelled October deliveries to Europe following damage to its East-West pipeline, according to Sparta Commodities' Aaron Kildow. Replacement cargoes are unlikely to arrive before later.