Petroecuador Output Falls to 356,867 Bpd During High-WTI Window

Petroecuador underperformed during a high-price oil window, limiting the fiscal upside from global crude volatility.

Primicias reports that WTI averaged $97 per barrel during the three months after the conflict between Iran and the United States began on February 28, 2026.

That was 56% above the $62.2 per barrel average recorded in January and February.

Production And Price Data

Primicias reports that Petroecuador is responsible for around 80% of Ecuador's oil production.

The state company has remained below the 370,000 bpd target announced in March 2026 by then-general manager Maria Daniela Conde.

Revenue Implication

Primicias reports that Ecuador's average crude price in April 2026 was $89.45 per barrel.

Using that average price, the outlet calculates that the country stopped receiving $1.5 million per day, or $45 million per month, because of the production decline.

Former finance vice minister Fabian Carrillo told Primicias that structural problems affecting Petroecuador include the closure of ITT and lack of investment to increase production.

What To Watch

• Petroecuador's May and June output relative to the 370,000 bpd target.
• Whether WTI remains near the lower May 27 level after the high-price period.
• Fuel-import cost pressure while domestic refining capacity remains constrained.
• Management stability and investment execution inside Petroecuador.

Source: Primicias