The OPEC indicates that the oil price downturn could be due to speculation

The Organization of Petroleum Exporting Countries (OPEC) said yesterday that the current state of the oil market does not justify the collapse in oil prices, which could be due to speculation. “We want to know the real reasons that led to such fall in prices,” said...

Ecuador and Venezuela will propose the OPEC to ‘protect the prices’

President Rafael Correa announced yesterday that Ecuador and Venezuela will submit a joint proposal to the Organization of Petroleum Exporting Countries (OPEC) in order to “protect prices,” implying “some cut of the production.” “It’s...