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Ecuador to request OPEC output cut exemption, seeking Saudi support
October 19, 2017 / 6:24 PM / a month ago

Ecuador to request OPEC output cut exemption, seeking Saudi support

TIPUTINI, Ecuador (Reuters) - Ecuador’s Oil Minister Carlos Perez said on Thursday the Andean country would request in November to be exempt from OPEC production quotas, citing fiscal problems due to lower crude prices.

A flag with the Organization of the Petroleum Exporting Countries (OPEC) logo is seen during a meeting of OPEC and non-OPEC producing countries in Vienna, Austria September 22, 2017. REUTERS/Leonhard Foeger

Ecuador is seeking support from OPEC members including Saudi Arabia and Venezuela for the request, Perez told journalists during a visit at an oil field in the jungle.

Reporting by Alexandra Valencia; Writing by Alexandra Ulmer; Editing by Chizu Nomiyama

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