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Colombia's government hopes to develop oil-rich rural areas now that a renewed peace agreement with FARC has begun implementation in December 2016. Colombian oil production fell to 846,000 barrels per day by October 2016, down from a 2015 peak of about 1,005,000 bpd.
Colombian oil output decline and a stronger US dollar pressure the peso and raise debt servicing costs, which can weigh on import capacity. Any recovery in oil supply would be a slow factor for regional energy and currency markets rather than an immediate price driver.
globalriskinsights.comPetr BohacekJan 24, 2017After 102 past neutral macro events, Crude Oil (WTI) moved a median -0.1% over 5 sessions (49% higher; middle half -3.3% to +2.5%), and +1.8% over 20.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
