Middle East Economic Survey

VOL. XLVII

No 27

05-July-2004

SUPPLY/DEMAND

Canadas Heavy Oil Not A Threat To Middle East Producers, Says FACTS

Canadian heavy oil production will be an important contributor to the US market, but is unlikely to reduce US dependence on Middle East crude supplies, according to FACTS Inc, Honolulu. In the report Canadian Heavy Oil: Answer To OPEC?, published in April, FACTS President Fereidun Fesharaki writes that Canadas heavy oil reserves are not convertible to actual...