Monday, October 23, 2017

Ecuador Still Exceeding OPEC Production Target

Posted by October 6, 2017

Ecuador remains out of compliance with its OPEC oil output reduction target, Carlos Perez, the country's oil minister said on Friday.

Perez made the comments during a presentation on investment in the country's energy sector at Rice University. Ecuador's oil production was 548,400 barrels per day (bpd) in 2016, and its output has declined in 2017.

However, the South American country has not hit its 26,000 bpd OPEC reduction target, he said.

Reporting by Gary McWilliams

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