Low Oil Prices will Lead to Reduced Investment in Oil Sector

  • The ongoing fall in oil prices will lead to lower investment in the oil sector in India over the next few years compared to the annual average investment seen in the last 10 years.
  • Anand Sahu, Executive Director (Exploration & Development Directorate), ONGC, said, ‘“With oil prices in the basement, the capital available for exploring new basins is tightening.”
  • He added that it makes a daunting task for India to reverse the investment trends in upstream sector.