ISTANBUL: Global energy markets are moving in the right direction after oil prices fell to historic lows due to oversupply, Qatar’s energy minister said Thursday, praising OPEC members for their adherence to a “successful” November deal to cut production.
Minister of Energy and Industry Mohammed Saleh Abdullah Al-Sada told the Atlantic Council summit in Istanbul that a decade of high oil prices had led to a dangerous oversupply, price falls and now an “unprecedented shrinkage” in investment.
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