Move represents a Tiny proportion of world production, but could embolden others to rethink their commitment to cuts
Ecuador has become the first country to publicly admit it will not meet Opec’s production curbs, saying it needs to pump more oil to address its fiscal deficit.
The South American country’s promised cut of 26,000 barrels of oil a day is a tiny drop in the 1.8m b/d that the cartel recently agreed to curb until early 2018, but the decision is still the first crack in the deal’s unity.Continue reading...
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