Middle East Economic Survey

VOL. XLVIII

No 39

26-September-2005

IMF Warns Of Insufficient Investment In Expanding Oil Production Capacity

The IMF has warned in its September 2005 World Economic Outlook that investment in the worlds upstream oil sectors is too low to ease oil prices in the medium term. While smaller oil companies and some oil exporters have boosted investment in expanding oil production capacity, major international oil companies (IOCs) and national oil companies (NOCs) have...