MOSCOW, December 23. /TASS/. Investments in the global oil sector have decreased almost two-fold this year from $700 bln to $400 bln, Russian Deputy Prime Minister Alexander Novak said in an interview aired by the Rossiya-24 TV news channel on Friday.

"We see major underinvestment globally. Previously investments in the oil sector totaled around $700 bln per year, whereas this year they roughly stand at $400 bln, which means an almost two-fold decrease," he said.

Rising energy prices and deficit that has arisen globally, have resulted in record high inflation rates in the world reaching double digits, as well as the closure of many production facilities, Novak added.