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President Rafael Correa “is tired” of asking OPEC to regulate oil prices
Posted On 21 Jan 2016
The president of Ecuador, Rafael Correa, said Wednesday he “is tired” of insisting to the Organization of Petroleum Exporting Countries for a strategy that regulates oil prices, and that the market situation is due to “geopolitical aspects.”
The smallest member of the OPEC faces the effects of lower oil prices in its dollarized economy, what has forced it to seek new sources of funding and make cuts in its budget.
“Congratulations if they meet (OPEC), I’m tired of insisting (…) Congratulations if a common strategy is achieved to regulate productionand supply a little and prices rise,” Correa said when asked about a possible extraordinary meeting of the group in the coming weeks.
