CERA: Geopolitics, doubt loom over future oil markets

Continuing political tension in the Middle East as well as uncertainty surrounding the world's oil supplies will create an unsure path for global oil markets in the coming year and beyond, according to the recently released Global Oil Trends 2003, a study conducted by Cambridge Energy Research Associates in collaboration with Accenture and Sun Microsystems.The study was released Feb. 12 at CERA's annual week-long energy conference in Houston.While world oil consumption remained relatively flat, world oil reserves in 2002 rose to 1.213 trillion bbl, which included for the first time 175 billion bbl of previously unreported extra-heavy oil in Alberta's oil sands, CERA reported (...

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