VOL. XLV

No 27

8-July-2002

SUPPLY/DEMAND

Strong Oil Price, New TechnologyOpening Massive Heavy Oil Reserves For Development

Therecent strength and stability of crude oil prices and advances in technologyhave raised the prospect of a major expansion of production of non-conventionaloil resources. According to the International Energy Agency (IEA), there aremassive resources of non-conventional oils, such as extra-heavy crude and oil shales, and the improving viability of these reserves has...