June 22, 2022 08:14 GMT
Petroecuador may be forced to suspend oil exports due to disruption from protests. Oil output could fall to 130kbpd by the end of the month. Ecuador oil production has averaged approximately 480kbpd so far this year.
- Ecuadorean protesters have held more than a week of marches and road blockades over President Guillermo Lasso's economic policies.
- The company has pre-emptively declared force majeure in case the protests impact their ability to fulfil contracts. They report four to five days of fuel reserves and oil exports will halt if they no longer have more oil than for their domestic market.