Oil rises sharply for the first time since mid-November

Oil rises sharply for the first time since mid-November

On Thursday, the price of the Texas oil benchmark exceeded $ 80 per barrel - for the first time since November 17.

According to trading data, on January 6, the global oil prices rally accelerated to 2-3%.  At 17.20 Moscow time, the price of February WTI futures increased by 2.88%, to $ 80.09 per barrel, the price of Brent for March delivery grew by 2.3%, to $ 82.68.

The oil rally continues amid unrest in Kazakhstan, which threatens production cycle. The republic's plans for production in 2022 are 87.5 million tons. Kazakhstan produces 1.6 m barrels of oil per day.

Kazakhstani oil company Tengizchevroil reported Thursday that it is continuing to operate, but production has been temporarily adjusted due to logistics difficulties.

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