InfoAnda - Ecuador to ask OPEC for exception to cutbacks

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Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Secondary Navigation Singapore Asia Pacific World Search Search: Ecuador to ask OPEC for exception to cutbacks AP - Tuesday, November 11 QUITO, Ecuador - Ecuador's oil minister says his government will ask OPEC for an exception if the oil cartel moves to slash production for the second time in a month. The president of the Organization of Petroleum Exporting Countries has said the 13-member cartel could further reduce output if plummeting oil prices aren't bolstered by last month's production cut of 1.5 million barrels a day. Oil Minister Derlis Palacios says Ecuador deserves to avoid further cuts because its production is marginal and oil exports pay for about 40 percent of its national budget. Palacios said Monday that Ecuador now produces 493,000 barrels of oil a day, following OPEC's first production cut. He ruled out breaking away from the cartel over the matter. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Oil Price Hike Oil prices rise on hope China's stimulus will stoke demandAFP - Tuesday, November 11 Ecuador to ask OPEC for exception to cutbacksAP - Tuesday, November 11 World oil prices more than two dollars higherAFP - Tuesday, November 11 S.Korea further delays power price hikesReuters - Monday, November 10 Related Articles: Business Mitsubishi Rayon says considering acquisition of LuciteReuters - 39 minutes ago SNAPSHOT - Financial Crisis - 0020 GMTReuters - 40 minutes ago S.Korea won down 2.4 pct; econ worries dragReuters - 41 minutes ago BOJ Yamaguchi in parliament 0200-0300, 0450-0540 GMTReuters - 41 minutes ago Cardiologist questions safety of Lilly's prasugrelReuters - 44 minutes ago Related Full Coverage oil price hike oil price hike All Full Coverage Most Popular – Business Viewed In Obama's victory, Americans see legacy of Lincoln G20 pledges 'all necessary steps' to restore stability AIDS vaccines: New hope for problem-plagued path Documents expose Prince William RAF training row: report MP3 earphones can hamper defibrillators, pacemakers View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology

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