Ecuador’s economy is staring down yet another crisis. Economic headwinds could further jeopardize its already-struggling oil industry. Drill count is inching up slowly, but it remains to be seen whether or not Ecuador’s hydrocarbon industry can stave off crisis. The oil-rich Latin American country of Ecuador finds itself yet again on the cusp of an economic crisis. Attempts to reform the disaster-prone economy and ease fiscal pressures for a heavily indebted government continue to flounder, with most efforts ending in civil unrest. Ecuador, like many countries in the region, was hit hard by the COVID-19 pandemic, which caused the gross domestic product to contract by 7.8%, poverty to soar and already weak government finances to come under considerable pressure. Even the adoption of the U.S. dollar after the 2000 economic collapse and populist left-wing coup, as well as the Andean country’s significant oil wealth, have failed to stave off […]