March 6, 2017 / 5:13 PM / 5 months ago

CERAWEEK-Oil sector needs 20 pct more investment this year -IEA head

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HOUSTON, March 6 (Reuters) - The global oil industry will need to increase investment by 20 percent this year over last to meet world crude demand growth and to offset natural well declines, the International Energy Agency's Executive Director Fatih Birol said on Monday, speaking at the CERAWEEK energy conference in Houston.

Reporting by Ron Bousso, writing by Gary McWilliams; Editing by Marguerita Choy

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