Key Market Indicators
By 2026, Colombian crude oil production is set to reach 48,220 thousand tonnes of oil equivalent. This represents an increase of 0.6% per year from the 2021 figure of 45,880 thousand tonnes of oil equivalent. Since 1976, Colombia's supply of oil has declined by 0.1% per year. In 2021, it ranked 20th in the world. Algeria overtook it to take the 20th spot, with 45,880 thousand tonnes of oil equivalent. Saudi Arabia, the United States and Iraq took the top three spots in the rankings, respectively.
