Ecuador to exit OPEC amid rising volatility in global oil market

GLOBAL – Ecuador one of the smallest oil producers has said that it would exit the Organisation of the Petroleum Exporting Countries (OPEC) in January next year. The Resources Ministry of the South American country said that the decision to leave was rooted in the issues and internal challenges that the country needed to bear for it to secure fiscal sustainability. Ecuador, however added however that it would continue to support all efforts that seek to stabilise the world oil market. Oil prices which used to have a predictable swing…

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