Guyana profits from oil amid economic challenges
Guyana is preparing to achieve substantial gains from rising oil prices in 2026, with expectations of increasing its oil revenues by 67% compared to last year, potentially reaching around $4.3 billion if prices stabilize around $100 per barrel. The country produces over 900,000 barrels per day and has reserves estimated at 11 billion barrels, reinforcing its position as a reliable source of global supply. However, President Irfan Ali cautioned that rising costs, such as for fuel and fertilizers, could impact the living conditions of the population, and the government is under pressure to direct the oil revenues toward diversifying the economy and developing infrastructure.
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