Protests may result in a one-third reduction in Ecuador's crude oil production

The Ministry of Energy of Ecuador said on October 8 that the country's crude oil production could be reduced by a third as a result of days of protests. Petroamazonas, Ecuador's state-owned oil company, said recently that the protests had put its crude oil production in unsafe conditions and that its crude oil production could fall by 165,000 barrels a day. A few days ago, Ecuador announced the abolition of price subsidies for gasoline and other fuels, which led to a sharp rise in oil prices in the country and aroused strong public discontent. In protest against the government's liberalization of gasoline prices, Eritrean transport operators held a nationwide strike on March 3. Ecuador's President Moreno declared a 60-day state of emergency on the 3rd to deal with social chaos caused by strikes by public transport practitioners.

Ecuador's oil producing areas, such as Schacha, Libertador and Auca, were affected by the protests. Ecuador's Ministry of Energy said protests in the Schacha oil field forced workers to suspend operations, resulting in a reduction of 72,500 barrels a day.

The Ministry of Energy of Ecuador said: "We oppose the destruction of the normal operation of the national oil and gas infrastructure, because they are the strategic assets of the country and create benefits and values for the country every day." In another statement, the Ministry said that six provinces were facing fuel shortages as local protestors blocked national roads.