Energy Ministry Says Guyana Expects To Receive Bids On Tuesday For Crude Marketing Contract
Portfolio Pulse from Benzinga Newsdesk
Guyana's Energy Ministry announced that it expects to receive bids for a crude marketing contract on Tuesday. This development could impact the global oil market and related financial instruments.
October 01, 2024 | 1:31 pm
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NEUTRAL IMPACT
The United States Oil Fund (USO) may be impacted by Guyana's new crude marketing contract as it could influence global oil supply and prices.
The USO tracks the price of oil, and any changes in global oil supply, such as new contracts from oil-producing countries like Guyana, can influence oil prices. However, the direct impact on USO is uncertain until more details about the contract and its bidders are known.
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