Colombia · Energy
Key Facts
—Q1 contraction: Colombia oil and gas extraction fell 2.7 percent year-over-year in the first quarter of 2026, the seventh consecutive quarter of contraction since the third quarter of 2024 and the longest such sequence since the 2014-2016 oil-price-collapse cycle, according to the Cámara Colombiana de Petróleo, Gas y Energía industry group, known by its short name Campetrol.
—Petroleum output: Average daily petroleum production reached 740,622 barrels in the first quarter, down 2.26 percent from the same period in 2025; the March print was 740,500 barrels per day, off 1 percent year-over-year but up 0.8 percent month-over-month from February’s 734,900 barrels per day on recoveries at the Índico field and new wells in Casanare and Meta.
—Gas at historic low: Colombian natural gas production averaged 1,168 million cubic feet per day in Q1 2026, down 9.74 percent year-over-year; the March reading of 1,151 million cubic feet per day was the lowest monthly output in the country’s recorded history, driven by aging field decline, pressure loss and water cut increases at strategic reservoirs.
