Guyana's oil production is set to hit one million barrels per day by year-end, cementing its status as a major regional producer and adding substantial new supply to global markets.
Guyana's rapidly expanding oil production, already exceeding 900,000 bpd and heading toward one million bpd, adds significant new supply to the global crude market.
Guyana has rapidly transformed into South America's third-largest oil producer, with output currently exceeding 900,000 barrels per day. The nation is on track to surpass the one million bpd threshold by year-end, significantly altering the regional supply landscape and exerting downward pressure on global crude prices.
Following the initial discovery in the Stabroek Block in 2015, Guyana commenced production in December 2019 and has since scaled operations to become a top-tier South American producer.