While some prefer to use partial figures from press releases, here at Setty’s Notebook we don’t let speed beat out completeness. Heck, we don’t let speed beat out anything — the next post is about figures released two months ago.
Anyway, the numbers published today by Colombia’s Agencia Nacional de Hidrocarburos shows that the high volatility in that country’s oil production continued in March. This time, it was a lurch to the upside in oil output, while natural gas sales fell to a 2-year low. Hard to know what that’s all about without looking at individual field data — gas sales can fall because the gas is being reinjected, or because fields are producing more oil per cubic meter of gas, or because production is falling. And the higher ratio of oil:gas is generally a good thing, as oil is selling for much more money than gas these days.