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2019-10-02 11:35:00

ECUADOR LEAVES OPEC

ECUADOR LEAVES OPEC

PLATTS - Ecuador will leave OPEC on January 1, the country's Ministry of Energy and Non-Renewable Resources said Tuesday.

"The decision lies in the internal issues and challenges that the country must assume, related to fiscal sustainability," the ministry said in a statement. "This measure is aligned with the National Government's plan to reduce public spending and generate new income."

Ecuador joined OPEC in 1973, but was not a member from 1992 to 2007.

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Tags: ECUADOR, OPEC
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