Ecuador’s oil is trading at $ 59

Following the decisionof the Organization ofPetroleum Exporting Countries(OPEC) of not tocut production,oil pricesyesterdaycontinued their downward trend, reachingminimum levelsin five years.

A barrel of West Texas Intermediate crude (WTI), which serves as a reference for the Ecuadorian crude, closed onThursday at the New York Stock Exchange with USD 66.15 per barrel, which represents a USD 7.54 less compared to last Wednesday.

This would be the lowest level since September of 2009. The low price has also affected the price of Ecuadorian type East crude. Petroecuador reported a price of USD 69.29 per barrel before the OPEC meeting. After this, yesterday the international news agency Bloomberg said the Ecuadorian West type oil was at USD 58.90.