Guyana is among a group of oil-exporting countries benefiting from higher global crude prices amid disruptions in the Strait of Hormuz, according to Clyde Russell, Asia Commodities and Energy columnist at Reuters.
Russell, in a May 28 column, said rising tensions in the Middle East have disrupted global energy supply routes, pushing up prices for crude oil, refined products, and liquefied natural gas (LNG), while also contributing to supply chain disruptions and higher input costs for importing countries.
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However, he added that some exporting nations are benefiting from higher prices, noting that “there are countries where higher prices for crude oil, refined products and liquefied natural gas (LNG) are providing huge benefits that, so far, outweigh the cost of rising inflation.”
As beneficiaries, Russell listed Guyana alongside Angola, Gabon, Argentina, Nigeria, Algeria, and Malaysia. These countries are positioned as net energy exporters or self-sufficient in refined fuels, allowing them to capture stronger revenues in the current price environment.
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The closure of the Strait of Hormuz has already removed an estimated 1.2 billion barrels of oil from global markets, with Guyana’s crude identified as a more stable supply source as countries adjust to reduced tanker traffic and ongoing security risks in the Middle East.
Guyana’s monthly output was 914,000 barrels per day (b/d) in March 2026. When the fifth project, Uaru, comes on stream later this year, production is expected to surpass one million b/d.
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Despite being a major crude oil exporter, Guyana still relies on imported refined fuels, and the closure of the Strait has contributed to increased gasoline prices.
