(Reuters) - Inadequate investment in the oil and gas sector is the chief reason behind the recent spike in prices and OPEC is not to blame, OPEC Secretary-General Haitham Al Ghais told CNBC on Wednesday.
"There are other factors beyond OPEC that are really behind the spike we have seen in gas (and) in oil. And again, I think in a nutshell, for me, it is underinvestment -- chronic underinvestment," he told CNBC. (https://cnb.cx/3QUez6h)
"OPEC is not behind this price increase."
(Reporting by Jyoti Narayan in Bengaluru; Editing by Edmund Blair)
Price
|
Change
|
5d. change
|
Capi.
| ||
|---|---|---|---|---|---|
| 83.41 USD | -0.16% | -4.37% | - | ||
| 78.42 USD | -0.32% | -4.81% | - | ||
