Experts predict oil recovery for the second half of 2015

The world oil markets are mired in uncertainty at the abrupt collapse of the “petro prices.” Analysts agree that precipitation is due to a strong excess of supply over the weakened global demand. Too much oil and OPEC does not react, “said analyst Ehsan Ul-Haq...

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,...

OPEC agrees not to cut oil production

The 12 member countries of the OPEC (Organization of the Petroleum Exporting Countries), from which Ecuador is part of, met in Vienna. After the appointment they indicated they would not propose a cutdown in production, so that the probability of a joint action of the group is...