The reduction in investment in the global oil industry amounts to 500 billion dollars per year. Such a drop in the indicator could lead to problems in the field of energy security, warned OPEC Secretary General Haytham al-Ghais.
The organization notes a significant decrease in the volume of investments in the oil sector – we are talking about more than 500 billion dollars per year. This situation threatens to reduce the availability of energy, he said at the international energy conference CERAWeek, held in Houston, Texas.
At the same time, al-Geis said that the redirection of Russian oil flows to Asian countries does not concern OPEC, as it does not disrupt the functioning of the market. According to him, such changes are a common occurrence, which he has observed throughout his years in the oil business.
