Ecuador: Holding steady on Opec cuts
No plans for an uptick in investment and production in the immediate future
Ecuador, an Opec minnow, has held the line on production cuts so far, but is also implementing major market reforms in a bid to draw in new investment and eventually add oil output after years of stagnation. Ecuador's president Lenín Moreno came to office widely seen as a loyalist to leftist former president Rafael Correa who would stick with the state-led economic model. But Moreno has surprised with a recent turn towards a set of market-friendly reforms aimed at winning over international investment to help revive the country's economy. In the oil patch, the new oil minister Carlos Pérez, a former Halliburton executive, is pushing reforms on two important fronts. He hopes to eventually lif
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