• Most Popular
  • Most Shared

Ecuador leader says OPEC should mull higher output

LIMA
Fri May 16, 2008 2:36am EDT

LIMA (Reuters) - Oil cartel OPEC should consider raising output because record high prices are hurting poor nations, Ecuadorean President Rafael Correa said late on Thursday.

World

"I think OPEC has to deal with this issue, because this is hitting all the poorest countries that are oil importers," he told Reuters during a summit of European and Latin American leaders in the Peruvian capital, Lima.

"And indirectly in OPEC members, like our country, it's one of the factors generating inflation around the world, which also hurts the poorest people," he said.

OPEC-member Ecuador, South America's fifth-largest oil producer, has an output of about 500,000 barrels per day.

"The dialogue must continue to reach solutions. It's on the agenda and it's being discussed," Correa added.

(Reporting by Terry Wade and Teresa Cespedes; Editing by Helen Popper)



More from Reuters

Photo

Democrats gain 60th vote on health bill

WASHINGTON (Reuters) - Senate Democrats reached a compromise on Saturday with the last holdout senator that secured the 60 votes they need to pass a broad healthcare overhaul sought by President Barack Obama.

A woman shops at a Sam's Club store, a division of Wal-Mart Stores, in Bentonville, Arkansas June 4, 2009. REUTERS/Jessica Rinaldi

The food-stamp economy

On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America?  Full Article 

Two men shake hands in a file photo.    REUTERS/File

Let's make a deal

The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis.  Full Article