The Andean nation is attempting to increase crude production to raise more income and has on multiple occasions broken its output quota fixed by OPEC.
Ecuador produces about 545 000 barrels per day| of crude, but is struggling with tight liquidity because of a wide fiscal deficit and hefty foreign debt. OPEC, Russia and other producers have since January 1 implemented a deal to cut output by 1.2 million bpd. The alliance, known as OPEC+, in July renewed the pact until March 2020.
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