Canadian oil sands maintenance to reduce crude supply to U.S. refineries by 300,000 bpd in September

Seasonal maintenance in Canadian oil sands is projected to cut crude output by 300,000 barrels per day throughout September. This supply contraction threatens to constrain U.S. refinery operations, which have been running at peak capacity to meet record export demand. It remains uncertain whether existing storage levels will be sufficient to offset the deficit without impacting fuel output.