Oil and gas production in Colombia fell 2.7% in the first quarter of 2026 compared to the same period in 2025, according to a Campetrol report. The hydrocarbons sector, which includes refining, grew 0.4% over the same period.
The Campetrol report indicates that crude oil and natural gas extraction has maintained its negative trend since the third quarter of 2024. Meanwhile, refining rose 7.6% year over year and partially offset the sector's overall contraction.
The hydrocarbons sector's share of the country's gross domestic product stood at 3.49% in the first quarter, down from 3.55% recorded a year earlier.
On the international front, Campetrol noted that in April global oil supply reached 94.6 million barrels per day, an annual reduction of 9.5%, while demand hit 103.2 million barrels per day and created a deficit of 8.6 million barrels.
