The behavior of the global market continues the drop trend in the price of oil.
Thus, last Friday, a barrel of “light sweet crude” (WTI), benchmark price used for the Ecuadorian oil, for January delivery, lost 22 cents to settle at $ 34.73. With this figure Ecuadorian oil remains at its lowest values since February six years ago.
“key data still justifies a downward trend,” said Kyle Cooper of the IAF Advisors firm.
The low current phase began on December 4 with the decision of the Organization of Petroleum Exporting Countries (OPEC) of not to setting a limit on production, while the market is out of balance by surplus in oil production.