OPEC President: Oil supply is now not enough, oil companies didn't invest enough

The OPEC President on Wednesday said that oil supply is not now enough and blamed oil companies for not investing enough. There is a quick rise in demand and we need to respond, the President noted, adding that we have to invest as quick as possible so supply can meet demand. Oil production has increased over the last few months, he said, but there is still a gap between targets and output. The main question, the President said, is how long it will take to produce more crude oil, before reiterating OPEC's mission to bring oil market stability and balance.