Ecuador to withdraw from Opec

Move a result of financial problems facing the South American country

Last updated: October 01, 2019 | 22:12

1 MIN READ

The Opec flag on a desk ahead of a news conference at the 175th Organisation Of Petroleum Exporting Countries (Opec) meeting in Vienna, Austria, on December 6, 2018.

Bloomberg

Quito: Ecuador announced on Tuesday it will withdraw from OPEC in January, due to financial problems facing the South American country.

"The Ecuadoran government has decided to cease to belong to the Organisation of Petroleum Exporting Countries (OPEC) from January 1, 2020," the ministry of Energy and Non-Renewable Natural Resources said in a statement.

Up Next

Related Stories

UAE announces March 2026 petrol and diesel prices

1m read

Since the UAE deregulated fuel prices in 2015, monthly adjustments have followed global oil market trends.

UAE rates out today: Fuel to get costlier next month?

2m read

A view of the Maria Cristina Falls and the adjacent Agus IV hydro-electric powerplant (lower centre). in Mindanao, southern Philippines. This aging 200-MW powerplant, first commissioned in 1953, forms part of the Agus-Pulangui hydropower complex (APHC). There are at least 100 known waterfalls in the country. Iligan City alone is nicknamed the "City of Majestic Waterfalls" and boasts more than 20+ waterfalls. APHC comprises 7 run-of-the-river hydropower complexes, with a total generating capacity of 1,000 megawatts (MW). It energises most of Mindanao (population: 26 million), the southern island with a land area three times the size of Belgium. The state-owned complex is up for sale.

Philippines: How $433b projects would cut power rates

5m read

A man stares at black smoke billowing from a fire at the Nico Lopes oil refinery in Havana on February 13, 2026.

Cuba's energy woes deepen as fuel supplies dwindle

2m read

Ecuador to withdraw from Opec

Get Updates on Topics You Choose