Oil prices have recovered this year on the heels of numerous, ongoing production disruptions that have reached multi-year highs.
To show the scale of all of these outages, a team at Goldman Sachs led by Damien Courvalin put together a handy chart, which you can see below.
“Despite the rise in disruptions over the past month, we believe that the market is not yet in a deficit as we continue to see upside surprises to production elsewhere,” the team argued in note.
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