Anticipating the proposals, Ecuador, the smallest members of the Organization, announced Monday he will not face a further decline in oil production.
A new measure of this kind could indeed be considered by the cartel to stabilize crude oil prices.
"I do not think" that the country could accept a further decline as required by OPEC to curb the fall in crude oil prices, told the press the minister responsible for oil Derlis Palacios.
He considered that "a further decline would affect the Ecuadorian economy too."
The Ecuadorian President Rafael Correa said in October that Ecuador should lower its production to 493,000 barrels per day (against 501,000 previously) following the cartel's decision to withdraw approximately 1.5 million barrels per day market from the month November.
Drawing heavily on the policy in Bolivia and Venezuela, socialist president has called into question, for over a year, the contracts between the Ecuadorian State to some 13 foreign oil companies, including demanding a fairer distribution of profits.
In 2006, oil accounted for 1 / 3 of GDP of Ecuador, 30% of the state budget and 60% of total exports.
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