Ecuador Forecast: Oil Exports to grow 5.2 percent in 2015

hellenicshippingnews.com reported Ecuador’s oil exports will grow by 5.2pc in 2015 to 422,740 b/d, up from 401,917 b/d in 2014, according to new finance ministry projections. But the higher shipments will not necessarily augment revenue in light of falling oil prices. The oil price assumption underpinning the government´s 2015 budget is $79.70/bl, compared with $86.40/bl in this year’s budget. Ecuador has set a 558,000 b/d output target for 2015. This year crude production should hit 555,300 b/d compared to an initial forecast of 525,000 b/d, according to non-renewable natural resources ministry data. http://www.hellenicshippingnews.com/ecuador-forecasts-5pc-rise-in-2015-crude-exports/