In order to control the international oil price, OPEC imposed strict restrictions on the oil production of its member countries. However, due to serious financial problems in Ecuador, Ecuador had to break through the OPEC quota to produce oil. In order to better cope with the domestic economic problems, Ecuador had to quit OPEC to liberate its oil production.

Ecuador, one of the smallest members of the Organization of Petroleum Exporting Countries (OPEC), announced on Tuesday that it will withdraw from OPEC from January 1 next year due to financial problems. Ecuador is trying to increase crude oil production to get more income, and has repeatedly exceeded OPEC's production quota for the country.

as an organization, the strength of OPEC comes from the ability of its members to cooperate with each other. When Venezuela and Saudi Arabia first established OPEC in the 196s, the idea was to manipulate global oil production by using the combined influence of several oil-producing countries, thus manipulating oil prices. Member States stay in OPEC because they can benefit from this organization.

however, OPEC and OPEC+,led by Russia, failed to boost oil prices, which made Ecuador disappointed. If the price of oil does not rise, Ecuador needs to earn more income by producing and exporting more oil. Therefore, it cannot tolerate OPEC's imposition of production quotas on it.

Increasing production is one of a series of large-scale reforms initiated by the President of Ecuador. As part of the reform, the country also abolished the state subsidies for diesel and gasoline. For this reason, it also triggered a series of protests from the people. Protests also affected Ecuador's oil production. Because of roadblocks and blockades, several state-owned and independent oil production companies in Ecuador cut production by about 31% or 165, barrels per day.