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Petroecuador Lifts Oriente Crude Force Majeure

OIL

Petroecuador has lifted the force majeure declaration on its Oriente crude now that domestic crude production is nearly back at the same levels prior to recent weeks protest disruptions.

  • Protests hit production mid-late July to around 50% (see chart), but an agreement between the government and protestors has resulted in production rebounding back to nearly full output this week at 484kbd on July 6.
  • The lifted force majeure measures are with immediate effect.
Energy BulletsCommodities
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