Dwindling oil prices threaten investment in oil industry, says OPEC

THE Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Abdalla Salem El-Ba dri, has expressed concerns over the ripple effects of the dwindling crude oil prices on existing and new investments in the oil and gas sector.

El-Badri in a statement released over the weekend said: “We all want to see the global economy back on its feet as quickly as possible. The moderation of prices since last summer’s extreme certainly offers some short-term relief to consumers. However, if the current low price environment persists, this short-term relief may not translate into long-term gain.
NYGuardian