OPEC’s top official said Sunday that the cartel’s decision to continue pumping crude in the face of collapsing prices is hurting the U.S. shale-oil industry and that a global pullback on investment could lead to a shortage that will push the market upward again. “Projects are being canceled. Investments are being revised. Costs are being squeezed,” said Abdalla Salem el-Badri, the secretary general of the Organization of Petroleum Exporting Countries, at the Middle East Oil and Gas conference, which was held in Bahrain. “If we don’t have more supply, there will be a shortage and the price will rise again,” he said. Other top officials at the conference said they would maintain their response of continuing […]