![Pump jacks operate in Texas. Reuters](https://thenational-the-national-prod.cdn.arcpublishing.com/resizer/v2/X2BU5RVNCI3Q4PLJDOOBCL6PPQ.jpg?smart=true&auth=c36e1fb8c4bc61b5c30fa50b73242d8277f46a544b7cbd7b615c0c333ab2f20b&width=400&height=225)
Pump jacks operate in Texas. Reuters
Pump jacks operate in Texas. Reuters
Upstream investment in oil needs to hit $640bn by 2030 to ensure adequate supplies
Cumulative investment of $4.9tn will be needed between 2023 and 2030 to meet market needs and prevent supply shortfall, study says