Guyana’s Oil Boom Gets a Major Boost From $100 Crude

Oil prices remain elevated in the wake of the Iran War. Tehran’s ability to close the Strait of Hormuz has sharply crimped world oil supply, with around 20% of all petroleum consumed globally passing through the waterway. This triggered an oil shock with prices surging to levels not seen since Russia’s invasion of Ukraine. Although this is straining economies worldwide, it is creating a windfall for the tiny South American nation of Guyana, which recently emerged as a global oil producer and exporter. Since 2015, global supermajor ExxonMobil…