Insight
What lies ahead for Guyana crude oil?
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Report summary
Guyana has garnered attention as a source of new liquids supply and now these barrels are hitting the market. Recent market volatility and political uncertainty have already impacted the development timeline. Above-ground risk and additional project execution risks will impact production growth into the mid-2020s. As production ramps-up, this medium crude will be competing against a glut of Brazilian medium supply in the 2020s. Quality evolves in the mid to late 2020s as both lighter and heavier crude blends are likely to be produced. Refiners in the US will show interest in the medium streams in the short-term, while Guyana gains market share in other regions outside of the US by 2025.
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