Commodities

Hart Energy Predicts Heavy Crude Oil Production Will Rise

By Houston Business Journal

Led by new production in Canada, Venezuela and the Middle East, global production of heavy crude oil will rise to 12.3 millions barrels per day by 2020, according to a new study by Houston-based Hart Energy.

In “Heavy Crude Oil: A Global Analysis and Outlook to 2035,” Hart predicts even greater production long term, with average daily output reaching 16 million barrels per day by 2025 and maintaining that level for 10 years.

Production in 2010 was 9.4 million barrels of heavy crude oil per day.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/09/01/hart-energy-predicts-heavy-crude-oil.html?ana=thestreet

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Copyright bizjournals.com 2010

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