MOSCOW, September 16. /TASS/. The Organization of the Petroleum Exporting Countries (OPEC) drew attention to a new report by the International Energy Agency (IEA) on investments in oil and gas fields and called for avoiding a return to rhetoric suggesting that new oil projects do not require investment, the organization said in a statement.

Earlier, the IEA noted in its report several factors that have hindered investment in the oil industry. However, OPEC pointed out that the IEA failed to mention how its own commitment to the net-zero emissions scenario and its forecasts of peak oil demand deterred investment and contributed to uncertainty about long-term oil demand.

According to the organization, OPEC has consistently advocated for timely investment in the oil industry to offset the rate of production decline and meet growing demand.