HOUSTON, May 4 (Reuters) - The gap between supply and

demand is widening as global energy systems face strain,

Guyana's President Irfaan Ali said on Monday, as the Iran

warenters its third month and continues to drive up oil and gas

prices amid supply shortages.

Energy markets have been reeling since the start of the war,

which has caused damage to infrastructure across the Middle East

and led to the effective closure of the Strait of Hormuz, a key

trade chokepoint. Oil prices have climbed above $100 a barrel

and global trade flows have shifted as some nations scramble to

secure supply.

Guyana has emerged as a bigger player in the global energy

market following the development of its offshore oilfields in

recent years. Exxon Mobil ( XOM ), which leads a production

consortium there, has boosted output capacity to over 900,000

barrels per day since it began producing crude in the South

American country in 2019.

"We must view the reality of our world in this transition,"

Ali said at the Offshore Technology Conference in Houston,

Texas. He added that the current energy system lacks enough

investment to meet the current pace of demand, noting that

renewable energy will not be enough to fill supply gaps.