VI. SECTOR PETROLERO EN COLOMBIA UN ANÁLISIS A LAS FLUCTUACIONES ECONÓMICAS EN EL SIGLO XXI

Abstract

Oil is an indispensable resource in the energy development of modern life. Its
extraction, reserve and commercialization are transversal to the economic balance, the
geopolitical, social, and environmental relations. Colombia is considered an oil country as it
has 18 wells in operation managed by the Ecopetrol company, making Colombia an oil
country by 2016, in which a considerable percentage of its economy comes from the
extraction of this hydrocarbon. It is for this reason that the present research aims to analyze
the main economic fluctuations in the oil sector in the 21st century. For this purpose, a
literature review and data collection are carried out through analysis matrices to account for
the correlations that real events have in the fluctuations of the price, commercialization, and
export of oil in Colombia. It is concluded that approximately during the first third between
2000 and 2007 the behavior of oil exports and its derivatives were managed in ranges of
relatively low volatility, and for what would be the second third from 2008 to 2014 there is
a notable upturn in income from the export of oil and its derivatives, finally in the last third
a recession or depression is seen comparable in speed to the phenomenon presented in the
period.