June 20, 2018 / 2:32 PM / a month ago

Ecuador: OPEC could agree to compromise on oil supply boost

VIENNA (Reuters) - OPEC and its partners could agree to a compromise increase in oil output of between 500,000 and 600,000 barrels per day, Ecuador’s oil minister said on Wednesday.

The logo of the Organization of the Petroleoum Exporting Countries (OPEC) is seen at OPEC's headquarters in Vienna, Austria June 19, 2018. REUTERS/Leonhard Foeger

“I hope that countries put down their own interests and look at the whole as a better picture. That will benefit all of us if we can do that,” minister Carlos Perez told Reuters.

“Maybe we can find somewhere in between, not 1.5 (million bpd) and not zero, maybe something in the middle.”

Asked whether that implied an increase of 500,000 to 600,000 bpd, he said “probably”.

Reporting by Alex Lawler; Editing by Dale Hudson

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