Al-Ghais says underinvestment may fuel oil market volatility

22/05/2023 Argaam

Al-Ghais says underinvestment may fuel oil market volatility

OPEC Secretary-General Haitham Al-Ghais

OPEC Secretary-General Haitham Al-Ghais stressed today, May 22, that the lack of investment in the oil and gas market could lead to market volatility in the long term, putting the sector's growth at risk, Reuters reported.

 

Speaking at the Middle East Petroleum and Gas Conference in Dubai, the official emphasized the necessity of minimizing greenhouse gas emissions rather than replacing one form of energy with another, while encouraging investment in all energy sectors.

 

"That is the truth that needs to be spoken," Al-Ghais added.

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