17:37 - 8.12.2025

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December 8, Fineko/abc.az. Ecuador is increasingly spending almost as much on gasoline, diesel and gas imports as it earns from the sale of crude oil.

ABC.AZ reports, referring to The Rio Times, that this is a serious blow for the dollarized economy: the country is losing its oil cushion, which for many years covered the difference between domestic fuel prices and its real value.

If in 2022 the oil surplus was $5.7 billion, then by 2025 it may decrease to $662 million, and in 2026 - only to $945 million. At that, Ecuador sells heavy oil at $53 per barrel, and buys fuel at $74, which makes the previous model unprofitable.

The situation is worsened by falling production: the closure of Yasuni-ITT block, pipeline problems, lack of investment in Petroecuador and idle refineries. Against this background, non-oil exports - shrimp, cocoa, and mining - already generate more earnings than oil.