OPEC says it’s keen to increase investments

OPEC is keen to increase investments that would boost production of crude oil, and the group is considering joint ventures with the European Union in new oil refineries, its president said Thursday. 

“We think we have the capability to secure supply to the market, especially in the third and fourth quarter of this year, without any problem,” said Sheik Ahmed Fahd Al Ahmed Al Sabah, president of the Organization of Petroleum Exporting Countries, after meeting with EU officials. 

“We are willing to discuss joint investments downstream,” he added.