Goldman Sachs predicts a shortage of oil in the North American market throughout July

Stopping of oil production at the Syncrude Canada can lead to a fuel shortage in the North American market throughout July, analysts at Goldman Sachs said. The company produced about 360 thousand barrels of oil per day. Last week, work at the plant was discontinued due to a power outage due to a breakdown of the transformer. As the Canadian company reported, the resumption of work is expected not earlier than the end of July. Goldman Sachs experts believe that this situation will accelerate the decline in fuel stocks in the US, and its consequences can be felt outside of North America. The report of the bank's analysts says: “This problem makes OPEC's decision to increase production even more timely.”

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