VOL. XXX

NO. 21

2-MARCH-1987

OPEC/NON-OPEC AND OIL PRICES

Ecuador Admits Overproduction

Ecuador is exceeding its OPEC production quota and intends to ask the OPECdifferentials committee to reduce the official price of its Oriente crude byat least 50 cents a barrel, according to Deputy Energy Minister FernandoSantos Alvite.

Speaking to reporters in Quito on 25 February, Mr. Alvite said production wascurrently running at around 260,000 b/d, some 50,000 b/d over Ecuador'sfirst-half quota of 210,000...