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Dow Jones – Ecuador Cuts Oriente Crude Differential $3.41/Bbl For March

Date: Mar 18, 2011

Oil industry news from Ecuador:

Petroecuador, Ecuador’s state oil company, said Thursday that it has raised the price of its Oriente crude oil by lowering its price differential $3.41 a barrel, effective March 1.

Petroecuador said that, under the new price differential, it is offering its Oriente crude oil at the West Texas Intermediate price minus $1.89 a barrel. Until February 28, Petroecuador offered its oil at WTI minus $5.30.

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