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OPEC Secretary General Haitham Al Ghais said that he world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term.  "If we don't get it right this time we are sowing the seeds for future energy crises - not just one, but multiple.”  He added that “We are already hearing messages coming out of all the industry leaders and policymakers about the importance of investing in the oil sector.  They realize now that the lack of investments over the past few years is a big part of why we are in the situation we are in today.”  He said that OPEC’s key message is that the world will continue to require oil in the long term.

OPEC Sec Gen: Oil investment lag sowing seeds for future energy crises

OPEC Secretary General Haitham Al Ghais said that he world must act swiftly to invest in oil to prevent future energy emergencies as global demand for the hydrocarbon grows in the long term.  “If we don’t get it right this time we are sowing the seeds for future energy crises – not just one, but multiple.”  He added that “We are already hearing messages coming out of all the industry leaders and policymakers about the importance of investing in the oil sector.  They realize now that the lack of investments over the past few years is a big part of why we are in the situation we are in today.”  He said that OPEC’s key message is that the world will continue to require oil in the long term.

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