The impulse of the oil pact is dissipating

Image: Expreso

The price of oil was rising, reaching 38 dollars per oil barrel. This created an expectation to the public, however, the impulse began dissipating. The crude price set by Texas (WTI), which is the reference taken by Ecuador, closed in 36,50 dollars, which meant a loss of 3,69% just in a couple of days. The stock market is now filled with doubts, especially when they are considering a possible agreement between the countries that produce oil crude.

The market expectation was not positive when there are factors in consideration such as the production freezing as a measure to stabilize prices. To burden the issues, yesterday, Kuwait and Iran started conditioning the agreements. (I)

Original source in Spanish: http://expreso.ec/economia/el-impulso-del-pacto-petrolero-se-disipa-ND126870