Oil investment set to decline further in 2016: IEA's Fatih Birol

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"If it comes true, this will be the first time in two decades we will see oil investments declining for two consecutive years and may be an indication for future oil markets," he said at the Singapore International Energy Week.There has already been a more than 20 percent decline in oil investments in 2015, he said, adding that the bulk of the decline in oil investments came from North America and Brazil.

(Reporting by Jessica Jaganathan; Editing by Ed Davies)