Guyana is a country we don’t hear about too often, but its rise as an oil producer has earned it some air time. In particular, we’ll be looking at the implications this carries for global oil markets.

Guyana discovered oil in the late 2010s and aims to produce 1.4 million barrels per day within the next five years. ExxonMobil is the big dog leading this operation. So, who will this bump in the oil markets impact the most?

Countries in the Eastern hemisphere will gain some added stability to the oil supply mix. As Russian oil loses its legs in Europe, any outside sources will be welcomed with open arms. For the Americans, the emergence of Guyana on the oil markets isn’t great news, as the medium sweet crude coming from Guyana works well with European refineries. So, mark this one down as a nice win for the Europeans and a small loss for the Americans.

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