XLE & Oil

Saudi Arabia and Asia Locked In Dispute Over 2027 Term Oil Deals

OilPrice.com·Oct 20, 2026 · 10:30 AM CT
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Readthrough summary

Asian refiners and Middle Eastern producers are negotiating 2027 term crude supplies, as they do every year, but the Iran war has scrambled this year's contracts.

Because sellers couldn't deliver contracted cargoes, they leaned on spot sales. Refiners argue those spot barrels should count toward 2026 term volumes; Saudi Arabia reportedly disagrees.

Traders involved told Bloomberg the dispute is unresolved with only days left to finish the 2027 deals.

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Read the original at OilPrice.com

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