"Ecuador is a small, oil-producing country of 16 million inhabitants located on the west coast of South America between Colombia and Peru. In 2017, Ecuador was considered to have the thirdlargest proven reserves of crude oil in South America, with 8.3 billion barrels. It is the smallest member of the Organization of the Petroleum Exporting Countries (OPEC). Petroleum is Ecuador's largest export to the United States, the country's top trade partner. With the reduction in crude oil price since 2014, Ecuador's earnings have fallen after years of strong growth."
CRS Report for Congress, R44294