The global economic crisis and the resultant volatility in the demand and pricing of crude and oil products have resulted in a radical re-thinking of supply, demand, and price outlooks in the global energy industry. In an industry confronting new volatility as well as changing quality profiles of the major traded crude streams, it has never been more important to integrate upstream and downstream factors in future supply and price outlooks.

Turner Mason & Company, in coordination with Energy Intelligence, has responded to this challenge by completing a comprehensive new analysis of the major upstream and downstream factors that will influence the market for crude oil over the coming decade.

New Approach Integrating Upstream & Downstream Drivers

The World Crude Oil Outlook 2010 - 2020 provides a comprehensive data resource and an independent assessment of the key upstream and downstream drivers of crude production, and pricing dynamics, including:

• Innovative, independent assessments of worldwide crude oil reserves, production and refinery demand.

An Essential Strategic Planning Tool

The World Crude Oil Outlook 2010 - 2020 provides an independent basis from which to evaluate long-term strategic initiatives in all areas of the petroleum industry, including the upstream, midstream, downstream, and commercial areas. Key themes and conclusions from this major new research project include:

• The distribution of current crude oil production differs significantly from reserves, both geographically and by crude type.

• Heavy crude production in the next decade will begin to mirror the abundance of heavy reserves with 34% of the production growth being in this category.

• The surplus in heavy crude refining capacity will limit the heavy crude discount in the near term, but this discount will grow in the second half of the decade.

• Worldwide refining capacity additions will add to what has become a significant surplus.

• The world is not running out of oil, nor has worldwide crude oil production potential or capacity peaked. In fact, the estimate of total worldwide economically recoverable reserves is over 1.8 trillion barrels. This is over one-third higher than most official estimates.