Ecopetrol Drops Most Since 2007 on Colombian Oil Selloff
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Colombia’s state-controlled oil company Ecopetrol SA fell the most in seven years as a sell-off by crude producers led the country’s biggest stock market rout in more than a year.
Ecopetrol, the Andean nation’s biggest company, tumbled 9.6 percent to close at 1,880 pesos in Bogota, the biggest drop since November 2007, as crude prices continue to slide. The company’s 55 percent decline over the last 12 months makes it the world’s worst performing oil company with a market value of more than $10 billion.