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Ecuador’s President predicts oil at $200

Президент Эквадора прогнозирует нефть по $200

The price of black gold in the medium term, can jump up to $200 per barrel. This assumption, according to the ABI Agency, was expressed by the President of Ecuador, Rafael Correa, commenting on the negotiations between the Russian Federation and the OPEC countries about the possibility to freeze the level of oil production.

This is a possibility that the head of state explained the cessation of investment in the oil sector, the closing of oil rigs due to their unprofitability with low price.

Ecuador’s President also did not rule out that the low price of black gold could be used as a tool of pressure on some of the world’s countries — Russia, Iran and Venezuela.

While Correa described the negotiations between Russia and Saudi Arabia “as a positive fact”.

Previously the Agency Bloomberg with reference to the Ministry of energy of Qatar reported that the head of the energy Ministry of Russia Alexander Novak and representatives of OPEC (Organization of the petroleum exporting) after talks in the Qatari capital Doha have agreed to freeze the production of black gold on January 11.

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