One Turn
Ecuador resumes oil sales to Peru under $1.65bn contracts
Ecuador's state oil company Petroecuador will resume crude sales to Peru's Petroperú under two contracts covering 16.2 million barrels worth $1.65 billion.
Why it matters
The deal secures regional crude supply for Peru as global markets remain tight.
Background
Ecuador is a South American oil exporter and Peru's state refiner relies partly on imports. Gulf disruption has pushed buyers to diversify.
Sources
- UPI ↗Oct 21, 11:27 AM ET
This summary was written automatically from the reporting linked above; follow the sources for the full story. How One Turn works.