Guyana Has Become a Major Driver of Global Oil Supply Growth
Guyana has turned into a significant contributor to global crude oil supply growth in just a few short years. This is according to data published by the U.S. Energy Information Administration this week that showed Guyana had the third-fastest production growth rate globally, after the United States and Brazil.
64 million bpd by 2030 as it is eager to monetize its hydrocarbon resources before peak demand hits, as predicted by forecasters seeing a successful energy transition away from oil and gas. If the peak demand forecasts fail to materialize, Guyana will remain a major producer if its plans pan out. These plans may come to include Chevron if its takeover deal with Hess Corp. gets done. Right now, this is doubtful because Exxon and CNOOC are challenging it—because of the Guyana operations.
Crude Oil Supply Discoveries Production EIA United States South America
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