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Stock impact report

LatAm oil-producing nations brace for record investor outflows on crude plunge [Toronto Globe and Mail (Ontario, Canada)]

Ecopetrol S.A. American Depositary Shares (EC) 
LatAm oil-producing nations brace for record investor outflows on crude plunge Capital flight from Latin America’s oil-producing nations is nearing record levels as the collapse in oil prices makes global investors even more risk averse during the coronavirus pandemic. Equity and debt markets in Mexico, Brazil and Colombia have experienced historic outflows in recent weeks, while Ecuador, in particular, is exposed to a potentially ruinous fall in oil-related export and tax revenues. Data from the Washington-based Institute of International Finance and major banks show a notable pick-up in portfolio outflows from the region’s main oil-producing countries in recent weeks. Not all these outflows stem directly from oil price moves, but stocks and bonds in state-controlled producers like Petróleos Mexicanos, or Pemex; Colombia’s Ecopetrol and Petroleo Brasileiro SA, or Petrobras, have fallen significantly. With the May front-month WTI crude future contract going as low as minus $40 a barre Show less Read more
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