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OPEC's new chief says the cartel can't be blamed for high oil and gas prices, and underinvestment in the entire industry is behind the global energy crisis

1 month ago   |   By Business Insider

Saudi Arabia's Oil Minister Khalid Al-Falih listens to journalists at the beginning of an OPEC meeting in Vienna, Austria, July 1, 2019. REUTERS/Leonhard Foeger
OPEC's new secretary-general said the cartel can't be blamed for high oil and gas prices.
Underinvestment in the industry broadly is to blame for surging prices.
"This is the harsh reality that people have to wake up to and policymakers have to wake up to," the cartel's new chief said.
OPEC's new secretary-general said the cartel can't be blamed for high oil and gas prices, and that the real problem is one of underinvestment in...
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