Oil Price in Colombia — Brent & WTI Crude Today

Colombia is a notable crude producer from onshore and offshore fields, with exports shipped to the US and Asia. The state company Ecopetrol sells its blends on a Brent-linked basis, anchoring export revenue to the benchmark.

Classified here as a significant producer outside opec+, Colombia trades against Brent and WTI. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Colombia settles at.

Colombia produces at scale outside the OPEC+ framework, so its output responds to price and drilling economics rather than to a negotiated quota. That makes it a swing factor the cartel has to plan around: when Brent rises far enough to make new projects work here, the supply response arrives with a lag and caps the rally.

South American grades are sold as differentials to whichever marker fits the destination — Brent for Europe and Asia, WTI for the US Gulf — so both benchmarks matter to the realised export price.

Colombia refines for its own market. Domestic refining means crude is imported or produced and converted locally, so the local fuel price reflects crude cost plus the domestic refining margin rather than the landed cost of finished product. Refinery outages and turnaround schedules can therefore move pump prices here independently of Brent.

Crude is invoiced in US dollars, so buyers in Colombia face two prices at once: the Brent price and the COP exchange rate. A weakening COP raises the local cost of a barrel even when Brent is flat, which is why domestic fuel prices in currency-exposed markets often fail to fall when the benchmark does. The reference rate used in the estimates on this site is 4,300 COP per USD.