Five Latin American countries that met Friday in Quito called on their peers worldwide to work to stabilize crude prices, according to a joint communique released after the regional summit attended by representatives from Bolivia, Venezuela, Mexico, Colombia and host country Ecuador. They also recommended that oil producers in general “take production decisions based on public information from the global market” in light of “the need to balance crude output and demand to reach an equilibrium price,” according to the communique, read by Ecuador’s foreign minister, Guillaume Long. The communique said that producers invited to an April 17 meeting in Doha, Qatar, should “take the necessary actions to stabilize the global oil market to improve prices, to the benefit of producer and consumer countries.” The communique made no mention of a proposal to freeze output at January 2016 levels that was floated earlier this year and is expected to […]