The world will need to invest $48 trillion over the next couple of decades in order to meet its energy needs through 2035, according to the World Energy Investment Outlook released by the International Energy Agency (IEA) in London on Tuesday. The agency emphasized that increased investment in the development of Middle East oil reserves will be crucial in the next decade as the surge in non-Opec production in places such as the US, Canada and Brazil starts to slow down.
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