IEA’s Birol: Its 1st time in history that oil investments are down 3 years in a row

At an energy conference in Tokyo on Thursday, International Energy Agency (IEA) director general Fatih Birol said that global oil investment are likely to continue its decline as we head into 2017.

Key Quotes:

"Our analysis shows we are entering a period of greater oil price volatility (partly) as a result of three years in a row of global oil investments in decline: in 2015, 2016 and most likely 2017" 

"This is the first time in the history of oil that investments are declining three years in a row," adding that this would cause "difficulties" in global oil markets in a few years.

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