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Saudi Arabia has notified at least two European buyers that it will not fulfill crude oil shipments scheduled for October, despite existing long-term supply agreements. The kingdom cited extraordinary military circumstances as the reason for the disruption.
Under the legal classification of force majeure, Saudi Arabia is permitted to temporarily suspend its contractual delivery obligations. This development follows a similar action recently taken by Qatar regarding its own energy supply commitments.
Article source: libertas.mk | Image credit: libertas.mk
