Guyana's Oil Output Fuels Surge in Tanker Demand Across Americas

Guyana's rapid growth in oil production has become a significant contributor to increased tanker demand across the Americas. The country's output, which surpasses 900,000 barrels per day, is one of the fastest-growing sources of new crude in the region.

This trend is part of a larger increase in Western Hemisphere crude supply from Guyana, the United States, Brazil, and Argentina. More of these barrels are being shipped to major consuming markets in Asia.

According to International Seaways CEO Lois Zabrocky, 'When you really drop back and take all the horrible war effects, all of the war in the world out of the equation, you see the fundamental West increasing, the East demanding that crude.'

The longer trade routes between producers in the Western Hemisphere and consumers in Asia require more tanker capacity. As a result, International Seaways has ordered four long-range tankers for delivery in 2028 to position itself for regional demand.