The future of Ecuador is still raw

You can not cover the sun with a finger or solve the oil crisis with a single measure. That is the conclusion of three former ministers of energy who reviewed the paths of the Ecuadorian crude. The production freeze of Venezuela, Saudi Arabia, Qatar and Russia helps but is insufficient, they say.

For Rene Ortiz, who was also secretary of the Organization of Petroleum Exporting Countries (OPEC), freezing production is only regulating the supply, the demand still has to be reviewed. In the case of Ecuador, he ensures there are chiaroscuros that hinder that step.

During a round table discussion in the Chamber of Commerce of Quito, Ortiz asked how were set, for example, the rates for oil companies operating in the country. He said it is presumed these range from 30 to 40 dollars per extracted barrel. A bad bargain compared to the current price.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8900147&idcat=38269&tipo=2