OPEC denies acting against USA

The Secretary General of OPEC, Abdullah El Badri, said that the decision of the member countries of the organization to maintain their oil production level, despite the fall in prices would be “purely economic” and not “directed against any country.”...

Venezuela resorts to China for financial support after falling of crude

Venezuelan President Nicolas Maduro traveled to China in search of support amid the falling in oil prices and the critical economic situation of the country, on a tour that will also take him to visit various member states of OPEC. “I’m going on a specific tour,...

Law to face the fall in oil prices in 2015 goes into effect today

The President of the Republic, Rafael Correa, made no observations and sent directly to the Official Register the Law of Production, Incentives and Tax Fraud Prevention. This law is part of governmental measures with which the government intends to deal with the fall in oil...