Colombia's oil production set a new record in May 2011, reaching an average output of 927 thousand barrels per day (bbl/d). Average annual production increased by more than 30% between 2005 and 2010. EIA expects Colombia's production to continue growing in the near future. The June 2011 Short-Term Energy Outlook projects average annual production to increase from 800 thousand bbl/d in 2010 to 910 thousand bbl/d in 2011 and 980 thousand bbl/d in 2012.
Two factors primarily contributed to Colombia's expanded production:
In 2010, Colombia exported 504 thousand bbl/d of its oil production, with 365 thousand bbl/d going to the United States. Imports from Colombia helped offset declines in U.S. imports from Mexico and Venezuela. EIA's recently released Country Analysis Brief for Colombia features additional analysis on these trends, along with a broad discussion of Colombia's energy sector.