OPEC: Higher Oil Investments Are Needed To Avoid Rampant Volatility

The oil industry needs to increase investment in capacity and new production so that the oil market can avoid high volatility in the future, OPEC’s Secretary General Haitham Al Ghais said this week. Al Ghais stressed the importance of increasing investments in the oil sector in an exclusive interview with the Emirates News Agency (WAM) on the sidelines of the ADIPEC energy conference in Abu Dhabi. The significant decline in investments in the oil industry, which began with the price crash of 2015 and then again in 2020 with the first COVID…