NOVELTY - A catalyst comprises: matrix material comprising a support and/or binder, and at least one metal oxide on the matrix material. The metal oxide comprises metal selected from tungsten, chromium, cobalt, molybdenum and/or nickel.    USE - For catalytic pyrolysis of biomass (claimed) to produce pyrolysis product; for transformation of biomass into high-value commodities or corresponding stable intermediates.    ADVANTAGE - The catalyst for catalytic pyrolysis processes, enables the production of low oxygen content, stable liquid intermediates that can be refined to make liquid hydrocarbon fuels; can be used in thermochemical conversion of biomass to produce liquid bio-crude oil that can be upgraded to hydrocarbon products, e.g. transportation fuels. The catalyst enables higher efficiencies to be achieved during conversion of biomass to upgraded bio-oil. The catalyst produce low (less than 20 wt.%) oxygen content bio-crude, while minimizing over-cracking and coke formation. The catalytic biomass pyrolysis processes utilizing such catalyst can achieve bio-crude yields significantly in excess of 20%, and carbon conversion efficiency in the liquid product exceeding 40%. The catalyst compositions achieve an effective balance of catalytic activity and low coke formation susceptibility by an appropriate tunable ratio of Lewis acid and Bronsted acid sites; enable reducing zones to be eliminated without loss of yields or carbon conversion efficiency in the liquid product. The catalyst compositions include promoters that are effective to improve activity of the catalyst or to impart other desirable functional characteristics, such as increased hydrogen production or inhibition of coke formation in the use of the catalyst in biomass pyrolysis systems and processes. The catalytic pyrolysis reaction process exhibits a carbon conversion efficiency of the pyrolysis reaction that is greater than 20%, greater than 30%, greater than 40%, greater than 50%, greater than 60%, or greater than 70%.    DETAILED DESCRIPTION - INDEPENDENT CLAIMS are included for the following:    (1) catalytic pyrolysis (M1) of biomass involving: reacting a biomass starting material under pyrolysis conditions in the presence of the catalyst to yield a pyrolysis reaction product; and regenerating the catalyst used in the pyrolysis reaction, to remove coke deposited on the catalyst and yield regenerated catalyst for use in the pyrolysis reaction; and    (2) a system for catalytic pyrolysis of biomass comprising a pyrolysis reactor adapted to react biomass starting material under pyrolysis conditions in the presence of catalyst to yield pyrolysis product, and regenerator adapted to receive coked catalyst from the pyrolysis reactor and to regenerate same for recirculation to the pyrolysis reactor, where the pyrolysis reactor is provided with the catalyst.