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The loss of crude exports from Iraq and Kuwait in 199091 and their gradual reentry into oil markets will have a profound effect on world crude quality.
Accordingly, the proportion of heavy crude in world markets will decline the next 5 years.
That's the gist of a report by Energy Security Analysis Inc., Washington.
ESAI Pres. Edward N. Krapels predicts changes in global crude quality distribution will be dominated by light crude production coming back on stream in Iraq and Kuwait. That trend will be seen in some other producing countries as well.
And while the sulfur content of the average world barrel of crude will rise with increasing production from the Organization of …