Oil supply will be reduced this year by 58%

The Organization of Petroleum Exporting Countries (OPEC) said yesterday it is expected that the anual increase in the supply of crude from its competitors, especially the United States shall be reduced by 58% (from 2.04 to 0,850,000 barrels per day) in 2015, because of the...

The price of oil goes up closing at $ 51.53 per barrel

The price of West Texas Intermediate oil (WTI), which serves as a benchmark for Ecuador, rose 2% yesterday, ending at $ 51.53 a barrel. The Department of Energy of the United Sates announced an increase in crude stocks of 10.3 million barrels. Thus, inventories again exceeded the...

Oil closed yesterday at $ 53.05 recovering by 7%

The price of oil West Texas Intermediate (WTI) ended yesterday’s session at $ 53.05 per barrel, registering an increase of 7.02%. Upon the completion of the trading day on the New York Mercantile Exchange (Nymex), the WTI future contracts for March delivery rose $ 3.48 a...

Oil registered a small rise but remains in less than $ 50

The price of a barrel of oil closed this Wednesday’s session registering a rise in New York, driven by Wall Street and an unexpected decline in crude stocks in the United States. However, the oil price remains under $ 50. A barrel of “light sweet crude” (WTI)...

In seven years Ecuador received $ 77,530 million from oil exports

Ecuador received $ 77,530 million from oil exports between 2007 and 2013, with an average oil price of $ 74.09, and with ranges that have reached maximum peaks of $ 117 and the lowest of $ 26.6 in March 2009. According to Jaime Carrera,Executive Secretary of the Fiscal Policy...

Oil price starts with an annual loss this 2015

Crude starts this January 1 a new day with an annual loss approaching 50%, after that WTI (West Texas Intermediate) closed the last day of the year at $ 53.27 and Brent at $ 56.82. The price recorded on Wednesday, December 31 by the WTI, in reference to the Ecuadorian crude, is...

Rafael Correa recognizes that 2015 will have external complications

President Rafael Correa said this Wednesday in his twitter account that 2015 will be “a great year” for the country despite the “external complications.” The new yearis expected to havecomplicationsin economic terms because theoil selling is one ofthe main...

Oil ends at its lowest level since 2009 in New York

The price of oil was positioned at its lowest level in five and a half years on Monday in New York, a market that has been hit by fears about the global supply of oil. A barrel of “light sweet crude” (WTI) for February delivery fell USD 1.12 to 53.61 at the New York...
12