Guyana is going through an impressive oil boom, with the country on track to produce over a million barrels per day by 2030. Unfortunately, the small country’s production will take time to ramp up, and it can’t be considered a solution to the current supply crisis. Realistically, OPEC is the best option out there when it comes to bringing more oil to the market, but analysts are uncertain about its spare capacity. The war in Ukraine, the subsequent U.S., and UK ban on Russian oil imports, Europe’s energy crisis, and supply constraints all highlight the need to expand global crude oil production. Nearly a decade of under-investment due to the late-August 2014 oil price collapse saw significant supply constraints emerge which are being exacerbated by surging energy demand as the COVID-19 pandemic winds down. This sparked a massive oil price rally which was further buoyed by Moscow’s invasion of […]