Recent declines in oil prices pose a significant challenge for economies that rely heavily on the export of energy resources. Colombian state oil company Ecopetrol, a major player in this market, has found itself in a complex situation. With Brent crude futures falling to $63.45 per barrel, the company's president, Ricardo Roa, has warned that lower prices could reduce the company’s profits by 12 trillion pesos ($2.76 billion) this year.

Ecopetrol, Colombia’s leading state oil company, is currently grappling with significant challenges resulting from a steady decline in crude oil prices. According to company President Ricardo Roa, the slump in oil prices could shrink the company’s profits by an estimated 12 trillion Colombian pesos – approximately 2.76 billion US dollars – this year. This forecast underscores the pressing need for a strategic reassessment of production policies and a focused drive toward cost optimization.