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Colombian crude oil production hits 18-month high

Bnamericas Published: Friday, August 05, 2022
Colombian crude oil production hits 18-month high

Colombia reported an 8% rise in oil production in June as operators capitalized on surging prices, new figures show.

Output from domestic fields reached 752,294b/d, up from 694,150b/d a year earlier, according to data from the mines and energy ministry.

It marked the fourth consecutive monthly increase and the first time since December 2020 that production exceeded 752,000b/d. 

Producers also reported a 3.44% year-on-year rise in gas output to 1,103 million cubic feet per day.

"We [leave] more than 353 wells in production and a hydrocarbons sector that has been completely reactivated," outgoing energy minister Diego Mesa said on Twitter ahead of the August 7 swearing-in of president-elect Gustavo Petro. 

Brent crude was trading at US$95/b on Friday, down from a June average of US$123/b amid rising concerns about a global economic downturn.

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