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Colombia hails one million barrels per day oil target

Wednesday, January 2, 2013

Colombia announced it has reached its longtime goal of producing one million barrels of crude oil in one day, as the industry continues to expand due to massive investment from foreign companies.

The record-setting moment occurred Saturday when workers tallying up output levels at the end of the night said production was 1,015,000 barrels, Finance Minister Cárdenas said on Twitter.

"We're among the 20 largest [oil] producers in the world," Cárdenas said. "A million barrels of oil is the best opportunity for the country to close the gap [between rich and poor] and create social and economic equality."

Source: Dow Jones