Ecuador OilMin Perez: Will cap output at higher level in deal with OPEC

Dhwani Mehta FXStreet

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.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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