Oil Export Newcomer Guyana Boosts Its Market Share In Europe ...Middle East

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Higher demand for lighter crude grades and a major reshuffle of global oil flows following the sanctions on Russia for its invasion of Ukraine have opened the door to increased volumes of crude from Guyana, the newest oil-exporting nation, into the European market.    Guyana shipped 63% of all the oil it exports in the first six months of 2023 to Europe, with an average daily rate of 215,000 barrels per day (bpd), per Refinitiv Eikon data cited by Reuters. The share of Guyana’s crude oil exports going to Europe was around 50% of…

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