Ecuador’s Energy Minister, Xavier Vera-Grunauer, warned on Sunday that oil production has reached a “critical” level and could come to a complete halt within 48 hours if protests and roadblocks continue.
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“Oil production is at a critical level“.
“If this situation continues, the country’s oil production will be suspended in less than 48 hours, as vandalism, the seizure of oil wells and the closure of roads have prevented the transportation of equipment and diesel necessary to maintain operations.”
“Today the figures show a decrease of more than 50% in production which, before the protests, was approximately 520,000 barrels per day.
Meanwhile, the president of Ecuador reportedly said that fuel prices will fall, according to AFP News.
Source: Fx Street
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