The most dramatic events in the oil market last week occurred in North America as opposed to OPEC’s get-together in Europe, according to Goldman Sachs Group Inc. The bank says the outage of an oil-sands facility in Canada could lead to a shortage in North America for all of July and shrink stockpiles at the main U.S. storage hub in Cushing, Oklahoma. That’ll support American oil prices while a deal in Vienna between OPEC and its allies to boost output — led by Saudi Arabia — may weigh on Europe’s Brent crude, analysts including Damien Courvalin wrote in a June 24 report. “With the global market pricing to pull crude out of the U.S., this loss of U.S. supplies will exacerbate the current global deficit, making the increase in OPEC production all the more required,” the analysts wrote in the report. “And while Saudi is already ramping up exports, […]