Ecuador, a major oil producing country has called for the cooperation of Nigeria as part of the efforts to halt the free fall of price of crude oil at the international market. Already, Ecuador has proposed a cut in Organization of Petroleum Exporting Countries (OPEC) daily production quota which currently stand at 30 million barrel per day.
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.
Verdesoto who happens to be the first ambassador of the South American country to Nigeria presented his Letters of Credence to President Muhammadu Buhari at the Presidential Villa in December, 2015. Read more