The 2026 Outlook for South America’s Top 5 Oil Producers

A sharp decline in natural gas reserves is threatening to spark a major energy crisis at a time when Bogota is facing a fiscal crisis , caused in part by dwindling hydrocarbon production. Over the last five years, domestic gas production has fallen sharply, with December 2025 gas output plummeting a massive 23% year over year to 693 million cubic feet per day and well below the one billion cubic feet per day recorded for the same month a decade earlier. As a result, costly liquified petroleum gas imports (L ...