Oil prices have risen again and investors are partly betting on the forthcoming reduction in oil supply. Brent futures have reached their highest levels in more than three years. Lower oil production is also expected with the rapidly spreading variant of the coronavirus Omicron and other measures.
In an effort to prevent the rapidly spreading Omikron mutation, the country is waiting for the
Novavax Inc. vaccine and is preparing to distribute the first Pfizer antiviral tablets. Antiviral drug
Paxlovid will arrive in the country this week and another delivery is expected by the end of the
month. The use of Novavax has been authorized by the South Korean Ministry of Food and Drug
Oil prices have risen slightly due to the situation in Kazakhstan. The protests in Kazakhstan disrupted the railway line and hit oil fields in Tengiz. Libya's pipeline maintenance also reduced production to 729,000 barrels per day. Supply problems have affected oil prices, and Russian production is already at its peak. The oil forecast is therefore in a bullish direction.