Artem Abramov, Head of Oil and Gas Research at Rystad Energy, said a US$100-per-barrel oil environment would make companies more willing to accelerate offshore investment decisions, pointing to Guyana as a market already moving quickly.
Abramov spoke during a Rystad Energy webinar held on March 2, 2026, titled Middle East Conflict: Oil & Gas Market Implications.
“We have Guyana with ExxonMobil, already delivering very impressive project sequencing,” Abramov said. “I think it will accelerate further. It’s already on a fast drumbeat.” He added, “US$100 oil will basically remove any remaining hesitation.”
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The US$100 discussion comes amid rising market prices in heightened geopolitical risk tied to escalating conflict involving U.S. and Israeli strikes on Iran and retaliatory actions affecting regional energy flows and shipping. According to March 1 reports from Reuters, Brent crude climbed as high as US$82.37 per barrel before trading around US$79.14, as traders focused on risks surrounding the Strait of Hormuz, a key global oil and gas transit route.
Reuters also reported disruptions linked to the flare-up, including impacts on tanker movements and regional energy infrastructure, adding to the supply-risk premium underpinning the US$100 scenario.
Against that backdrop, Abramov said higher prices could compress development timelines across offshore basins. “We could start talking about things like accelerated timelines for phase six to eight projects,” he said, describing approved expansions as becoming “very, very likely”.
Abramov’s reference to Guyana comes as ExxonMobil’s Stabroek Block operations continue to define the country’s production path. ExxonMobil said in a November 12, 2025, update that daily oil production in the Stabroek Block reached 900,000 barrels per day following the startup of the fourth offshore project, Yellowtail, in August 2025.
ExxonMobil is the operator of the Stabroek Block with a 45% interest. Hess holds 30%, and CNOOC holds 25%.
Abramov cautioned that sustained high prices could also influence consumption patterns. “US$100 oil might also result in some demand elasticity, and it cannot necessarily stay around for a long period of time,” he said.
