Bloomberg reporting comments delivered by Ecuador’s Oil Minister Carlos Perez late-Tuesday, noting that the South American country will cap its production at its current 541,000 barrels a day to avoid undermining the OPEC output-curbs deal.
Perez noted: “Even though there is greater potential, we have a commitment with OPEC to maintain this production until there are new guidelines.”
Saudi Energy Minister Khalid Al-Falih called Perez last month when he abandoned the OPEC deal because of the nation’s troubled fiscal and economic situation.
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