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Asia must prepare for looming oil and gas shortages

Slumping production, lagging investment could hamper region's rebound

| South Asia
Flames emerge from flare stacks at Nahr Bin Umar oil field in Iraq: The oil market is notoriously shortsighted.   © Reuters

Vandana Hari is founder of Vanda Insights, a Singapore-based global energy market intelligence provider.

An unprecedented and likely irreversible slump in global oil production capacity over the past two years, coupled with a sustained drop in the investment needed to rebuild it, is building toward an avalanche that will likely rattle the world, especially once fuel demand growth begins to recover from the economic slowdown now approaching.

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