While Argentina is leveraging government incentives to boost oil and gas output and exports, Colombia's restrictive policies, including a fracking ban, threaten its energy security.
OGDCL announces the discovery of new gas and oil reserves in Lakki Marwat's Bettani-2 well. Initial production includes 2.114 million cubic feet of gas and 74 barrels of crude oil per day.
Tight price compression in crude oil signals a sharp move ahead is possible. A bearish breakout could target $65.65, while bullish potential lies above $70.67 and the 50-Day MA.