The Russian Ministry of Energy predicts that investments in the oil industry will grow by approximately 10% in 2018 compared with 2017, Russian Minister of Energy Alexander Novak said in an interview with Russia 24 TV channel at the World Economic Forum in Davos.

Novak pointed out that the oil industry lost about USD 1 trillion of investments in 2014–2016 due to plummeting oil prices, which could negatively affect the hydrocarbon market. In 2017, investments expanded by 6%, the first increase since 2014, due to the OPEC+ deal to reduce oil production, he said.

Source: http://tass.ru/ekonomika/4900394