Oil industry faces uncertain future

On the surface, Ecuador’s oil sector seems as if it’s thriving. Production is close to 530,000 barrels per day — on par with Colombia — and, with help from a recently constructed pipeline, exports are about 400,000 b/d. Revenue from oil sales accounted for the bulk of the 6 percent rise in GDP last year.

But experts say production is topping out. Even worse, there is no replacement for the production in the near future and many fields are in serious decline and disrepair.

The Miami Herald via TradingCharts.com