OPEC head sees 'no immediate solution' to high oil prices
There is no "immediate solution" to high oil prices, Bruno Jean-Richard Itoua, president of the Organization of the Petroleum Exporting Countries (OPEC), said on Wednesday. The oil-producing countries' capacity to increase crude supply is curtailed by a lack of investment in the industry, said Itoua, who is also Congo's minister of hydrocarbons.
Itoua was addressing an energy conference in Riyadh.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)
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- Organization of Petroleum Exporting Countries
- Congo
- Riyadh
- OPEC
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