Saudi Arabia warns Europe of potential halt to oil supplies: Bloomberg

The Saudi state-owned company Saudi Aramco will not supply oil to at least two European refineries next month, Bloomberg reported, citing sources.

Deliveries will not take place due to strikes by the Yemeni rebel movement Ansar Allah (Houthis) on the Saudi East-West pipeline.

The line is due to partially restart within days and be fully back up and running within six weeks, a person familiar with the matter said on Wednesday, the agency wrote. The pipeline halt caused "panic buying" from some of Aramco’s customers, Bloomberg said, adding that Poland’s Orlen issued more than ten tenders since Friday in a race to secure alternative supplies.

The 1,200-kilometer pipeline carries crude from fields in the east of the country to the port of Yanbu on the Red Sea coast. Its throughput capacity reaches 7 mln barrels per day. A Reuters source said earlier that repairs could take 5-6 weeks.