CERA Trims Extra-Heavy Oil Output Estimates On Venezuela

(Dow Jones)–Cambridge Energy Resource Associates said Tuesday it trimmed growth projections for extra-heavy oil production due to anticipated delays at projects in Venezuela’s Orinoco river basin.

The Cambridge, Mass.-based consultancy expects extra-heavy oil production from Canada’s tar sands and the Orinoco river basin to reach 4.7 million barrels a day in 2015, down from its most recent forecast of 4.91 million b/d.
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