OPEC: Don’t shy away from foreign investment

OPEC’s new head said member states may have to attract more investment from foreign sources such as major Western energy firms and not just from state-operated national oil companies to meet global oil demand.

Abdalla el-Badri, the new secretary-general, is asking member states such as Iran to invite more foreign investment, a move that is at odds with the rising barriers faced by Western oil companies hoping to tap the cartel’s vast reserves, the Wall Street Journal reported.

UPI