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Ecuador cannot afford falling prices or an Opec output cut

Opec’s smallest group has limited sway over policy

Ecuador is a minnow swimming with Opec’s sharks. The country’s 560,000 barrels a day (b/d) of oil production is the smallest in the organisation, making up just 2% of its overall output, and the country has limited sway over Opec policy.Ecuador has had a rocky relationship with Opec. It suspended its participation in 1992, when Opec’s other members refused to lift the country’s production quota while the group as a whole was being forced to lower output. Ecuador only returned to the cartel in 2007 as president Rafael Correa overhauled the country’s oil policy, which also included re-negotiating the government’s oil contracts.Since its return, the country has typically sided with its hawkish

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