ISTANBUL Oct 10 A sharp contraction in
investments poses a threat to global oil supply, Mohammed
Barkindo, secretary-general of the Organisation of the Petroleum
Exporting Countries, said on Monday at the World Energy Congress
He said oil investments were projected to contract 22
percent this year and that next year was looking bleak.
OPEC officials are embarking on a flurry of meetings,
starting with the gathering in Istanbul, to nail down details of
their deal to cut production agreed last month in Algiers.
(Reporting by Rania El Gamal; Writing by Nick Tattersall)