From The National
''The head of
Opec warned yesterday that if predictions that the
United States will surpass
Saudi Arabia
as the world's biggest oil producer continue, the result will be a
reduction in investment by his members that will hit oil consumers.
"If this message keeps coming, there will be no investment" from Opec
members, said Abdalla El Badri, Opec's secretary general, adding that
"consumers will lose".
Mr El Badri's rebuke came less than 24 hours after a
prediction by the International Energy Agency (IEA),
the industrialised nations' adviser on energy policy, that US oil
production will exceed that of Saudi Arabia within five years.''
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