Brent above $100 boosts Colombia royalty revenue outlook to $40B by 2026

Colombia projects hydrocarbon royalties could reach $40 billion by end-2026 if Brent holds above $100, a level not seen since May. The estimate hinges on sustained high prices and assumes current production levels; uncertainty surrounds price volatility and government fiscal policy. This signals a potential windfall for Colombia's public finances, but also raises questions about fiscal dependence on oil.