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OPEC OPEC Secretary-General Mohammad Barkindo said in an interview with NBC Financial Channel that one of the most important problems facing the energy industry is the lack of investment
.
The oil industry experienced a $1 trillion loss during the 2015-2016 recession, which is not healthy
for continued growth in the medium to long term.
Mohammad Barkindo noted that supply and demand fundamentals are strong, with the oil industry approaching the 100 million barrels per day mark
for the first time in history.
But the consensus forged at CERAWeek is that "if the trends of the past few years continue.
.
.
We will sow the seeds for a future global energy crisis, which no one wants to see
.
”
Barkindo said that during the oil glut in the past few years, severe volatility became the norm and there was a lack of certainty about the duration of the cycle, and the decline in the cycle affected investment activity very badly
.
The head of Saudi Aramco said at CERAWeek that the oil industry will need $20 trillion in investment
over the next 25 years.
Barkindo also stressed that "we need to catch up with lost investment opportunities in order to restore stability on a sustainable basis, and the lack of certainty is a big concern
for investors.
" ”
OPEC OPEC Secretary-General Mohammad Barkindo said in an interview with NBC Financial Channel that one of the most important problems facing the energy industry is the lack of investment
.
The oil industry experienced a $1 trillion loss during the 2015-2016 recession, which is not healthy
for continued growth in the medium to long term.
Mohammad Barkindo noted that supply and demand fundamentals are strong, with the oil industry approaching the 100 million barrels per day mark
for the first time in history.
But the consensus forged at CERAWeek is that "if the trends of the past few years continue.
.
.
We will sow the seeds for a future global energy crisis, which no one wants to see
.
”
Barkindo said that during the oil glut in the past few years, severe volatility became the norm and there was a lack of certainty about the duration of the cycle, and the decline in the cycle affected investment activity very badly
.
The head of Saudi Aramco said at CERAWeek that the oil industry will need $20 trillion in investment
over the next 25 years.
Barkindo also stressed that "we need to catch up with lost investment opportunities in order to restore stability on a sustainable basis, and the lack of certainty is a big concern
for investors.
" ”
