OPEC AND THE OIL MARKET

OPEC Executive Council Warns Ecuador to Respect Production Quota 

OPEC's Ministerial Executive Council has notified the Government of Ecuador that its membership in the Organization may be reconsidered if it continues to ignore OPEC rules regarding production quotas. MEES learns that the Council sent this notification to Ecuador following its meeting in Geneva on 30 April-1 May (MEES, 6 May). The Council, chaired by Shaikh Ahmad Zaki Yamani of Saudi Arabia,...