Ecuador cannot comply with its pledge to Opec to cut 26,000 b/d from crude production, owing to its "difficult economic situation", oil minister Carlos Perez says. The country achieved cuts of 16,000 b/d in January-May, from an October baseline of 548,000 b/d, as part of an agreement by Opec and non-Opec producers to curb output. The country is no longer trying to comply with the quota because of its fiscal challenges, Perez says.
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