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Colombia modifies menu of crudes to offset price drop

Friday, August 7, 2015

Colombia, Latin America’s No. 4 oil producer, is changing the slate of crudes it exports in a bid to offset the falling prices that are crimping the revenues of its top oil companies.

The country has started to deemphasize exports of several heavier crudes, mainly Castilla, and increase offerings of Vasconia, a medium blend that fetches about $3.50, or 8%, more per barrel.

Source: Colombia Reports