Ecuador drops plan to request exemption from OPEC cut: oil minister – Reuters

Ecuador has abandoned for now a plan to ask OPEC for an exemption from its share of the organization’s oil production cut as crude prices are reacting positively to the group’s measures, the country’s oil minister said on Thursday. Ecuador, one of the smallest producers in the Organization of the Petroleum Exporting Countries, said last month that it would request an exemption from the joint output cut when the group meets in Vienna later this month. Read more>>