Kazakhstan Hopes Virus Variants Will Not Bring Oil Prices Back Down - Deputy Energy Chief

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Kazakhstan Hopes Virus Variants Will Not Bring Oil Prices Back Down - Deputy Energy Chief

HOUSTON (UrduPoint News / Sputnik - 08th December, 2021) Kazakhstan hopes that the emergence of new coronavirus variants will no cause global oil prices to slide to last year's lows in 2022, its deputy energy minister told Sputnik on Tuesday.

"We hope that oil prices will remain within the current range as the global economy expands next year," Murat Zhurebekov said on the sidelines of the World Petroleum Congress in Houston.

The price of the US oil benchmark Brent in October climbed past $86 per barrel for the first time in three years, buoyed by resurging gas prices. It dropped 17% in November and is now trading slightly over $75 per barrel.