• Login
  • Register
Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
Nairametrics
No Result
View All Result
Home Markets Commodities

Crude oil hits $82 a barrel on supply concerns amid unrest in Kazakhstan

Olumide Adesina by Olumide Adesina
January 7, 2022
in Commodities
Nigeria reclaims position as top African crude oil producer in May 2023

A worker inspects facilities on an upstream oil drilling platform at the Total oil platform at Amenem, Port Harcourt (Image credit - PIUS UTOMI EKPEI/AFP via Getty Images)

Share on FacebookShare on TwitterShare on Linkedin

The price of crude oil rose in London on Friday morning as an uprising in Kazakhstan led to concerns about disruptions in crude supplies from the OPEC+ producers at a time when Libyan output has dropped.

Brent crude futures gained 0.6% to $82.47 a barrel, following a 1.5% gain on Monday.

Crude oil futures for West Texas Intermediate rose above $80 a barrel in the previous session, following a 2.1% climb in the previous session.

RelatedStories

OPEC warns of 23 million bpd oil shortfall globally by 2030 without $17.4 trillion investment

OPEC warns of 23 million bpd oil shortfall globally by 2030 without $17.4 trillion investment

July 2, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 

Nigerian Oil falls below $70 a barrel amid faded supply disruption  

July 1, 2025

As the political situation in Libya continues to deteriorate and impact oil output, oil prices were mostly affected by market jitters due to the unrest escalating in Kazakhstan.

On Thursday, Russia sent in paratroopers to quell an uprising in Kazakhstan that has been raging for several days. After the government removed the state price caps on butane and propane on New Year’s Day, protests erupted in Kazakhstan’s oil-rich western regions.

Oil prices rose by as much as 6% in the first week of the new year, as supply concerns overtook concerns about the spread of the Omicron coronavirus variant.

Russia and its allies, collectively known as OPEC+, do not have enough oil to meet growing demand.

In December, OPEC’s output rose by just 70,000 barrels per day, far less than the 253,000 barrels per day allowed under the OPEC+ supply deal, which restored output that had been cut in 2020 when COVID-19 lockdowns collapsed.

A pipeline maintenance project led to a drop in production in Libya from 1.3 million barrels per day last year to 729,000 barrels per day.

Tags: KazakhstanOPEC
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

Related Posts

OPEC warns of 23 million bpd oil shortfall globally by 2030 without $17.4 trillion investment
Energy

OPEC warns of 23 million bpd oil shortfall globally by 2030 without $17.4 trillion investment

July 2, 2025
Latest crude oil price drop threatens Nigeria’s revenue and naira stability 
Commodities

Nigerian Oil falls below $70 a barrel amid faded supply disruption  

July 1, 2025
OPEC, crude oil production
Energy

OPEC+ output falls short in May as members cut oil to offset quota breaches

June 16, 2025
OPEC, crude oil production
Energy

Jitters for Naira as OPEC+ increases production quota by 411,000 barrels per day  

May 31, 2025
Crude oil prices
Breaking News

Crude oil price falls below $60, stoking fears of weaker naira and wider deficits 

May 5, 2025
OPEC
Energy

OPEC+ plans 2.2 million bpd oil output increase by November 

May 4, 2025
Next Post
US President, Joe Biden appoints 9-member delegation to Tinubu’s inauguration

U.S Supreme Court to hear in-person arguments challenging Biden’s vaccine mandate

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

first bank








DUNS

Recent News

  • Customs issues 21-day ultimatum to 223 companies over N379.5 billion temporary import permit defaults 
  • H1 2025 unaudited report: Unilever Nigeria accelerates into high gear with 54% Revenue Growth and 444% Surge in operating profit
  • President Tinubu backs N4 trillion bond to resolve power sector liabilities 

Follow us on social media:

Recent News

NCS

Customs issues 21-day ultimatum to 223 companies over N379.5 billion temporary import permit defaults 

July 25, 2025
H1 2025 unaudited report: Unilever Nigeria accelerates into high gear with 54% Revenue Growth and 444% Surge in operating profit

H1 2025 unaudited report: Unilever Nigeria accelerates into high gear with 54% Revenue Growth and 444% Surge in operating profit

July 25, 2025
  • iOS App
  • Android App
  • Contact Us
  • Home
  • Markets
  • Sectors
  • Economy
  • Business News
  • Financial Literacy
  • Disclaimer
  • Ads Disclaimer
  • Copyright Infringement

© 2025 Nairametrics

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Social Media Auto Publish Powered By : XYZScripts.com
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
    • Economy
    • Nairalytics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Company Results
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Sectors
    • Agriculture
    • Aviation
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Health
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Renewables & Sustainability
    • Tech News
  • Business News
    • Budget
    • Public Debt
    • Funds Management
    • Tax
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
    • Research Analysis
  • Recapitalization
    • Access Holdings Offer
    • Fidelity Bank Offer
    • GTCO Offer
    • Zenith Bank Offer
  • Login
  • Sign Up

© 2025 Nairametrics