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Colombia's oil reserves fell as price crumbled

Monday, May 23, 2016

Colombia said its crude oil reserves were down 13.2 percent to 2.0 billion barrels at the end of last year, as a global price fall let to a cutting back of activity.

Reserves, equal to 5.5 years of output at the country's current production rate, were down from 2.3 billion in 2014, the mines and energy ministry said.

Source: Reuters