OPEC's production rose by 70,000 bpd at the end of the year. Kazakhstan's largest oil company, Tengizchevroil (TCO), is increasing production at a slower pace so that production reaches normal levels after the protests. In the US, energy companies began in 2022 by continuing to add oil and gas rigs after an increase in the number of drilling rigs in 2021.

Performance of 5 years for Crude Oil WTI Futures. (Source: Investing.com)