TEHRAN, Nov. 24 (Shana) - Up to 2040, world oil industry will need more than 10 trillion dollars in investment in order to produce 2 trillion barrels of oil, Secretary General of the Organization of Oil Exporting Countries (OPEC) Abdalla El-Badri said in Tehran. Addressing the 3rd Summit of the Gas Exporting Countries Forum (GECF), El-Badri praised ...

[caption id="attachment_136688" align="alignright" width="194"] OPEC chief Abdullah al-Badri[/caption] The chief of the Organization of the Petroleum Exporting Countries (OPEC) says the recent dramatic fall in oil prices is further than the level being dictated by market fundamentals. The fundamentals should not lead to this dramatic reduction (in ...

Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) has announced that the Vienna-based energy organization plans to provide additional crude oil output from Iran. Abdalla el-Badri said on Wednesday that OPEC expects gradual increases fromIran and Iraq, while Libya could also enhance its oil production by as much as 1 ...