Orlen $PKN.WA now has to quickly source oil elsewhere because part of its supply has been disrupted due to problems with Saudi deliveries. Saudi Aramco supplies about 40% of Orlen's oil, so it's not a small matter. According to Reuters, the company is already taking more oil from the North Sea and seeking supplies from the US, Kazakhstan, Algeria, and Guyana.

And this is exactly where opportunities may open up for other producers in the short term. If European refineries have to replace Saudi oil, companies like Equinor, Aker BP, Shell, TotalEnergies, or ConocoPhillips, which have production in the North Sea, could benefit. Norway is also continuing to push new exploration licenses, and many of these players are competing again for additional blocks this year.

At the same time, American oil exporters may benefit if some European demand shifts across the Atlantic. According to several sources, Orlen already has tankers from the US en route to Gdańsk.

So while it's a complication for Orlen, for some producers outside the Middle East it could mean higher demand and better prices per barrel.

Which oil companies do you think could benefit the most from a prolonged disruption in Saudi supplies? Do you have any oil players in your portfolio?