While OPEC and other big crude producers work towards a deal to cap production to erode a glut, industry executives are concerned the sharp drop in investment that followed the oil price crash could lead to another crisis—a supply shortage. Over $1 trillion worth of oil projects have been cancelled or delayed, Saudi Energy Minister Khalid al-Falih said on Oct. 10 at the World Energy Congress in Istanbul, after companies slashed budgets due to oil prices more than halving to around $50 a barrel (bbl) since mid-2014. Oil fields take years to develop. In many cases, a decision taken in 2016 to develop a field means oil production will start in around 2020. OPEC, which produces around a third of the world’s oil, will hold talks with non-member oil producers on Oct. 12 to work out details of a global agreement to cap production for at least six months. […]