Guyana Produces More Oil Per Person Than Venezuela—But Where Is the Wealth?
Business
Finance
August 8, 2026
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Guyana has rapidly emerged as the world’s leading oil producer on a per capita basis, overtaking long-established petroleum giant Venezuela in a metric that highlights just how dramatically the country’s offshore sector has reshaped its economic profile.
Despite only beginning oil production in 2019, Guyana is now pumping more than 900,000 barrels of oil per day from the Stabroek Block, operated by ExxonMobil and its partners. Venezuela, by contrast, produced an estimated 1.16 million barrels per day in July 2026, according to data reported by Reuters.
While Venezuela’s overall output remains higher, the comparison shifts significantly when population is considered. Venezuela’s population stands at approximately 28.4 million people, while Guyana’s population is estimated at around one million.
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