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Ecuador Reaches Agreement with Indigenous Protestors

OIL

Ecuador's state oil company, Petroecuador, has reached an agreement with an indigenous group to end an ongoing protest at two of the firm's oil blocks in the Amazon – though remaining disruption to flows was minor after more serious disruptions were resolved in recent weeks.

  • Protests at the facilities caused production to fall to 6,337 bpd on Sunday from an average of 13,500 bpd prior.
  • Due to a range of protests and disruptions across Ecuador, the government has lowered its oil production target for the year from 520,000 bpd to a maximum of 490,000 bpd.

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