Colombia’s oil production grows 3.3% y/y in June
Colombia’s oil production rose 3.3% year-on-year to 892.000 barrels per day (bpd) in June, CEEMarketWatch reported citing figures released by the Mines and Energy Ministry. This result is positive considering it is well above the last 12 month average of 854.000 bpd.
On the other hand, sector’s activity fell 0.3% in m/m terms. This is the only setback of the quarter and it is fully explained by a base effect.
CEEMarketWatch expects the solid performance of the sector to continue to grow in next months. This source has forecasted that state-run company Ecopetrol will keep investing in growing reserves.Original source: CEEMarketWatch