Bogota, March 5 (teleSur-RHC)-- Colombia's largest oil trade union USO announced an indefinite strike in protest of widespread job cuts in the sector after the drop of global oil prices.

USO president Edwin Castano said the work stoppage is likely begin on March 26th. "We're going on an indefinite strike in the oil sector, along with workers and communities," Castano said, but added that they are willing to have immediate talks with the government.

According to official figures, so far some 10,000 oil workers have lost their jobs and the number could reach 25,000 by the end of the year.

The decision was taken after a meeting held in the northwestern city of Barrancabermeja, also known as the “Oil Capital of Colombia,” which is home to the largest oil refinery in the South American country.

Colombia produces roughly one million barrels of crude oil a day, most of it by the state-run Ecopetrol, which employs some 2,400 USO workers.

According to analysts, the strike could have an even greater impact on the South American country's economy than the drop in oil prices last June. The government of President Juan Manuel Santos has yet to release a statement on the issue.