OPEC announces reduction of investment in oil production

The fall in investment in global oil production is estimated at $500 billion a year, OPEC Secretary General Haitham Al Ghais at the international energy conference CERAWeek in Houston, Texas, Report informs.

"We are seeing a significant decline in investment in the oil sector," he admitted.

He noted that against the backdrop of such a reduction in investment, there are concerns in the field of energy security and energy availability.