Amid OPEC + production cut, India eyes Guyana’s oil to shore up supplies

India, the third-largest oil importer in the world, is working on a plan to increase its energy security by purchasing the majority of Guyana's oil output from its oilfields through long-term contracts at advantageous rates. Long-term supply agreements provide stability in the midst of erratic energy markets. Exxon Mobil, Guyana's largest oil producer, intends to increase output to 1.2 million barrels per day by 2027.