Heavy Crude Outlook Report




The report analyzes the expected supply/demand balance for heavy, medium, and light crude through 2040. Crude supply/demand changes by grade are analyzed and measured against Base Year to reflect the relative grade dynamics over the forecast period.

Data File Contents

  • Crude Production Forecast by Grade to 2040
  • Annual Refinery Capacity Changes
  • Crude Supply/Demand Balance by Grade
  • Forecast of Crude Price Differential
  • Key Sensitivities to Base Case Forecast

Tables Included

  • Regional Crude Production Forecast by Grade
  • Refinery Crude Supply/Demand Balance by Grade



  • Report File (Published: Spring 2023) – Global Heavy Crude Outlook Report.pdf
  • Data File 1 (Published: Spring 2023) – Heavy Crude Production Forecast.xls
  • Data File 2 (Published: Spring 2023) – Refinery Demand and Crude Supply by Grade.xls


Downloaded files are for the exclusive use of the individual or purchasing company. The data files shall not be published or distributed to third parties, affiliates, subsidiaries or parent companies without the written consent of Turner, Mason & Company.

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