The possibility that oil-producing countries reach an agreement this month to reduce oil extraction, has injected oxygen to the price of the barrel. If prices fell below $ 25 for some days in February, March begins with a staggered rise that yesterday left oil at the gates of rung 35. The barrel of WTI (Texas, benchmark of Ecuador) closed the day at 34.40 dollars, with a 1.93% rise ..
This figure is close to that predicted by the Ecuadorian government in its 2016 budget. With $ 35, the country will not have excess oil, but this covers expenses, as previously explained by the economic authorities.
This rise of 65 cents also approaches the barrel to the year record, since last January 5th it closed at $ 35.97. A day later its price collapsed two dollars ($ 33.97).