Ecuador Sees Higher Oil Prices As Result Of Gulf Disaster

25th Jun 2010 18:29

QUITO (Dow Jones)--Ecuador's nonrenewable natural resources minister, Wilson Pastor, said Friday that there will be a trend toward higher petroleum prices until the end of the year and probably in the next few years as a result of the massive oil spill in the Gulf of Mexico. "Nations that have potential petroleum in deep waters are going to have to issue regulations that are more strict, and until these come out there will be a brake on exploration in deep waters, which will have an effect on prices," Pastor told reporters. Ecuador holds the presidency of the Organization of Petroleum Exporting Countries for this year. -By Mercedes Alvaro, Dow Jones Newswires; 5939-9728-653; [email protected] (END) Dow Jones Newswires June 25, 2010 13:29 ET (17:29 GMT)