The Organisation of the Petroleum Exporting Countries (OPEC) has been trying to recruit Guyana as a new member of the cartel, The Wall Street Journal reported on Monday citing two OPEC sources.
According to one of the sources, both Saudi Energy Minister Abdulaziz bin Salman and OPEC Secretary General Haitham Al Ghais sent an invitation to the country, which has turned into one of the world's fastest-growing oil manufacturers, to join the organization in recent months.
Speaking to the WSJ, Guyanese Vice President Bharrat Jagdeo said that so far, the country has declined the offer, adding that the current goal is production and profit maximization in the short term, as crude demand is anticipated to dwindle in the coming decades. "The idea is to get as much of these resources out of the ground as quickly as possible given that we are not sure of the window we have in the future," he explained.
