Ecuador says its oil output may stop completely in 48 hours

Via AFP:

• Ecuador's energy ministry warned Sunday that oil production had reached a "critical" level and could be halted entirely within 48 hours if protests and roadblocks continue
• "Oil production is at a critical level," the ministry said in a statement.
• "If this situation continues, the country's oil production will be suspended in less than 48 hours as vandalism, the seizure of oil wells and road closures have prevented the transport of equipment and diesel needed to keep operations going."
• "Today the figures show a decrease of more than 50 percent" in production which, before the protests, was at roughly 520,000 barrels per day, it said.

After dropping earlier oil prices have bounced:

eur EUR The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value The euro (EUR) is the official currency of the European Union (EU) and 19 of 27 member states at the time of writing. It is the second most-traded currency worldwide in forex markets after the US dollar.The euro was originally introduced back on January 1, 1999, having replaced the European Currency Unit. Banknotes and physical euro coins subsequently entered circulation only in 2002.Upon its adoption, the euro replaced domestic currencies in participating EU member states. The rise in its value Read this Term