Ecuador Joins OPEC

by Stratfor

We said in October that Ecuador was on the fast track to rejoin the Organization of the Petroleum Exporting Countries (OPEC), and it did so in November. OPEC delegates welcomed Ecuador back at its key ministerial meeting Dec. 5, giving Ecuador a 520,000 barrels per day quota. The move could give Ecuador an income boost in the short run, but its long-term fortunes will suffer.