And to think, I almost went full regard and tried to short oil earlier this week…
Still might..
TL;DR
Saudi Aramco is cutting off crude-oil deliveries to European customers next month after attacks disrupted a major Saudi pipeline supplying oil through the Red Sea.
Saudi production reportedly fell by about 1.9 million barrels/day to 6.24 million bpd, its lowest level since 1990. European refiners, including Poland’s Orlen, are now scrambling to buy replacement oil on the spot market
