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Market
Colombia reaches 800,000 barrels/day production by end of 2024?
3
Resolution / Starting Odds
Yes • 50%
No • 50%
Official production data from Colombia's energy ministry or verified news sources
Story
Colombia Aims to Boost Oil Output to 1 Million Barrels Per Day Despite Declining Reserves
May 24, 2024, 01:47 PM
Colombia's energy ministry is targeting an increase in oil production to 1 million barrels per day by pressuring drillers to ramp up activity in underused exploration blocs. The energy minister aims to boost production to 800,000 barrels per day by the end of the year, up from 774,000 barrels per day in the first quarter. This initiative comes despite the country's bold climate stance. The ministry intends to leverage existing 'lazy contracts' to achieve these goals. Colombia's oil and gas reserves declined slightly during 2023.
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Less than 500,000 barrels per day • 33%
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More than 1 million barrels per day • 33%
Below 9 million barrels per day • 33%
Between 9 and 9.393 million barrels per day • 33%
Above 9.393 million barrels per day • 33%
Yes • 50%
No • 50%