Elections in Guyana become crucial for US due to its oil reserves

Georgetown, Sept. 2 -- Guyana is one of the smallest countries in South America, but its elections on Monday might have outsized implications for oil markets and the United States.

Surrounded by mineral resources, Guyana's oil production is growing and could surpass Iran's by 2027. But the threat of a military clash is looming over Guyana, because Venezuela claims one of the country's oil-rich territories.

Meanwhile, Guyana's extraction of strategic resources has drawn the attention of the United States and distant China, reports CNN.

Although it's the third smallest country in South America, Guyana has the highest expected growth in oil production in the world through 2035, according to a report by Global Energy Monitor.

By then, the c...