Guyana's Crude Oil Boom: A Steady Climb

Crude oil production in Guyana increased to 648,000 barrels per day in February, up from 620,000 in January. Driven by an Exxon Mobil-led consortium, the country's oil output has been rising steadily since it began in 2019 and is predicted to exceed 900,000 barrels daily by year's end.

Crude oil production in Guyana climbed to 648,000 barrels per day (bpd) in February, rising from 620,000 bpd the month prior, the country's natural resources ministry reported this Thursday.

The South American nation's oil industry, spearheaded by a consortium dominated by energy giant Exxon Mobil, has been on an upward trajectory ever since production commenced in 2019.

With prospects looking bright, Guyana's oil output is slated to soar past 900,000 bpd by the end of this year, marking a significant milestone in the country's burgeoning energy sector.

(With inputs from agencies.)