BUENOS AIRES (Pakistan Point News / Sputnik - 09th April, 2020) Ecuadorian Energy Minister Rene Ortiz will join the OPEC+ video conference on Thursday, with Quito seeking solutions that will stabilize oil prices, the national Energy Ministry said.
On Thursday, the OPEC+ video conference will be held on the possibility of a new cut in oil production to stabilize the market that will be followed by a meeting of the G20 energy ministers on energy market stability on Friday.
"Minister Rene Ortiz has accepted an invitation [to take part in the video conference] ... A fair oil price will be profitable both for producers and consumers ... Ecuador agrees with the efforts that must be taken to stabilize prices at the fair level," the ministry said on late Wednesday.
In January, Ecuador withdrew from OPEC to cut the country's spending and boost revenue.
