Ecuador asks the OPEC to ‘regulate’ the oil production

Ecuador made a request to the Organization of the Petroleum Exporting Countries (OPEC) to “regulate production” and thus push up oil prices, which according to President Rafael Correa “are unnecessarily low.”

Correa said that Ecuador and other members of the cartel as Nigeria are looking for a “extraordinary session” of the OPEC to discuss this proposal.

“Prices are unnecessarily low, and the OPEC has the capacity (to press), regulating its production along with Russia – which is not part of the OPEC – to raise prices,” said Correa.