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2019-01-30 10:55:00

OIL, GAS INVESTMENT DOWN

OIL, GAS INVESTMENT DOWN

BLOOMBERG - Three years ago, influential figures in the oil industry were sounding a clear warning: prices were too low, investment was collapsing and by the end of the decade the world would face a shortage.

In reality, the market today is looking at several more years of plenty, so much so that OPEC is beginning its third year of production cuts just to prevent a surplus.

"We're in an age of abundance," said Ed Morse, head of commodities research at Citigroup Inc. in…

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Tags: OIL, GAS, INVESTMENT, PRODUCTION
Chronicle:
OIL, GAS INVESTMENT DOWN
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