Petroecuador Production Fell While Oil Prices Rose, Primicias Reports

Ecuador had a higher oil-price window, but the state oil company did not fully convert it into production gains.

Primicias reports that the international WTI oil price averaged $97 per barrel during the three months after the conflict in the Middle East began on February 28, 2026.

That was 56% above the average of $62.2 per barrel in January and February, according to the report.

Petroecuador's April Output

Primicias reports that Petroecuador produced 356,867 barrels per day in April 2026.

That was 17,733 barrels per day lower than April 2025, a decline of 5%.

The state company remained below the 370,000 barrels per day target announced in March 2026 by then-manager Maria Daniela Conde.

Why The Price Window Mattered

Primicias reports that Ecuador's April 2026 crude price averaged $89.45 per barrel.

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

The state budget had assumed an average Ecuador crude price of $53.5 for 2026, so higher prices still helped public accounts. But the article says the benefit could have been larger if Petroecuador had been more efficient.

What This Means For Expats

Oil still matters to Ecuador's budget, even for residents who never think about barrels or refineries. When oil income underperforms, pressure can show up later through spending cuts, tax decisions, fuel policy or public-service delays.

For expats, the practical takeaway is that high oil prices do not automatically mean Ecuador's fiscal position is easy. Production, fuel imports and refinery capacity matter too.

Source: Primicias