Ecuador, a major oil producing country has called for the cooperation of Nigeria as part of the efforts to halt the free fall of crude oil prices at the international market, The Nation reports.

Ecuadorian Ambassador to Nigeria, Mr. Leopoldo Rovayo Verdesoto called for a cut in the current OPEC daily quota; stressing that the market was already flooded with the product and stated that Nigeria and Ecuador could play the lead role in addressing the current situation in the international oil market. “Nigeria and Ecuador could make a sign to the market and work towards reducing production on a daily basis,” he said.

He added, “ what I would like to do is to improve the relationship between both countries in the field of petroleum and as you have known We are both members of OPEC, and there is a lot of work to do because there are lots of interests and even in OPEC there are different points of views, but it seems that we have to make signs to the market that we could work together to produce less on a daily basis.”
Source: energymixreport.com