Durrantia arcanella is a recurring pest insect of oil palm in Colombia. Because the biology and ecology of D. arcanella are unknown, it was proposed to determine the life cycle and foliar consumption under laboratory conditions. Furthermore, through sequential sampling for two and a half years, its population fluctuation and natural enemies were determined in Agustín Codazzi and El Copey (Cesar, Colombia). Also, temperature, precipitation, and relative humidity were registered. The life cycle of D. arcanella lasted 48.0 ± 10.1 days, the egg 8.0 ± 0.7 days, larva 24.2 ± 6.2 days, pre-pupa 1.5 ± 0.5 days, pupa 7.1 ± 0.9 days, and adult 7.2 ± 2.0 days. The larvae consumed 8.2 ± 5.3 cm2 of leaflets. Correlations were found between the population fluctuation in D. arcanella and the temperature in El Copey (ρ = −0.45; p < 0.0043), relative humidity in Codazzi (ρ = 0.33; p < 0.034), and with the natural control in both locations ((ρ = 0, 61; p < 0.000044) and (ρ = 0.42; p < 0.006)). These results suggest monitoring the pest populations in the second semester of the year and show the importance of promoting native natural enemies.