Publications

Oil prices have experienced high volatility this year. Lower global demand and increased supply from OPEC+ have driven a bearish trend, which was recently interrupted by tensions between Israel and Iran. The outlook remains uncertain, especially concerning a potential blockade of the Strait of Hormuz.

While the Iberian day-ahead market operated normally after the April 2025 blackout, May saw an increase in REE's security-driven balancing costs. These measures, implemented to reduce systemic risk, led to higher wholesale prices, highlighting the inherent trade-off between reliability and affordability.

Colombia’s economy gains traction through consumption and easing interest rates, while investment gradually recovers. Inflation is declining, yet fiscal risks persist. Global uncertainty—with trade and financial tensions—adds pressure. Moderate growth is forecast for 2025 and 2026.

The House-passed budget, now before the Senate, backs fossil-fuel expansion over renewables. If this approach continues, U.S. decarbonization will likely slow, but it should not stop because of the economic rationale of the green transition.

The pig farming sector in Colombia has grown 171% over the last two decades, with improvements in productivity, technification, and health standards. The increasing trend in domestic pork demand represents an opportunity for sector development.

The production of liquid hydrocarbons of Pemex in the first quarter of 2025 vs. the previous quarter showed a decrement of 55.1 thousand barrels a day mainly due to a lower production of heavy and light crude oil by 63.8 thousand barrels a day.

This study analyzes the macroeconomic effects of carbon price shocks (EU-ETS) via a SVAR with Narrative Sign Restrictions. Facilitating identification and isolating shocks from demand factors, results indicate a stronger economic impact than previous carbon policy studies, but milder than recent works focused on the EU-ETS.

Spain's electricity faces significant challenges. While recent efforts have focused on expanding wind and solar capacity, effective grid integration is equally crucial for a successful energy transition.