The head of OPEC: the rise in oil prices may cause a decrease in investment in the industry

MOSCOW, November 10. The increase in oil prices can cause a decrease in investments of $130 billion, and the decrease in quotas by OPEC countries on 1,5 million barrels a day will not help. On it informs Agency Bloomberg with reference to the head of OPEC Abdullah al-Badri.

Badri also said that the countries outside OPEC, “must go on reducing oil supplies”. OPEC will not allow the reduction of its share in the world oil market to 40%.

According to him, even cut quotas by 1.5 million bpd at the next OPEC meeting on 4 December will not help balance the market.

“We need the price at which countries oil producers can invest, and consumers can buy. States must work together. We need to stabilize the market,” said al-Badri.