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.
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