Between January and August of this year, oil exports generated around $ 835 million, more than in the same period of 2016, according to data from the Central Bank of Ecuador. The difference occurs by a rebound in commercialization prices. During the analysis period, the average value of Ecuadorian crude oil increased from $ 32.10 (2016) to $ 42.75 (2017) per barrel.
Analysts consulted attributed the situation to the agreement signed by the Organization of the Petroleum Exporting Countries (OPEC) to stabilize the world market with a reduction in production, a measure in force from January 1, 2017, and extended until March 2018. Yesterday, for example, the WTI oil (reference for the Ecuadorian crude) recorded a spike of 0.91% to stand at $ 51.92, according to the specialized website Oil Price. (I)