Colombia’s Energy Crisis Deepens as Oil Output Falls and Imports Rise

Fiscally stressed Colombia is facing multiple crises that possess the potential to derail a vulnerable economy. Oil and natural gas production is in freefall because of adverse regulatory reforms and frequent tax hikes. Declining revenue from Colombia’s oil patch is impacting a fragile economy and weak government finances. There are fears that recent oil shocks caused by Tehran's closing of the Strait of Hormuz will sharply impact Colombia’s hydrocarbon-dependent economy, potentially triggering...