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21 Mar 2019, Radoslav Yordanov, EMIS Editor

Colombia’s oil output rises 8.4% y/y in February

Oil production in Colombia increased 8.4% year-on-year to 892.530 barres per day (bpd) in February, CEEMarketWatch reported citing figures released by the Energy Ministry.

This result shows significant acceleration compared with the 4.5% y/y hike scored in January. On the negative side, however, sector’s output fell 0.7% m/m, which is its first m/m decline since July 2018.

CEEMarketWatch commented that sector’s outlook is bright considering the fact that oil companies continue to invest in exploration and extraction activities. This source considers that the industry is likely to be one of the main drivers of Colombia’s economic recovery this year.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch