Tag Archives: Guyana’s Natural Resources Fund

Oil price climbing to a point where Guyana can rake in record revenues

An oil supply shortfall is coming and with OPEC+ expected to provide just a fraction of the demand, barrels from producers outside of the alliance, such as Guyana, would be needed even more. Already, dated Brent has soared past $75 a barrel – a two year high – as inventories continue to fall and demand picks up.

This scenario has seen analysts predict the return of a $100 a barrel oil price which would be the highest since Guyana began producing crude at the Liza Phase 1 Development in December 2019. This would see the Guyana government raking in around US$100 million per oil lift.        Continue reading

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