In 2022, the price of Brent crude oil is expected to rise to $80-90

Oil prices rose above $78 a barrel on Monday, supported by tight supply and hopes for a further recovery in demand in 2022
, although OPEC+ appears set to agree to further increase production and concerns persist about the impact of rising coronavirus cases on demand, as reported Jan.
3 London.

OPEC and its allies, known as OPEC+, are expected to agree to increase production
on Tuesday.
The Omicron coronavirus variant brought record numbers of cases and affected New Year's celebrations around the world, with more than 4,000 flights canceled
on Sunday.

At 14:44 GMT, Brent crude rose 39 cents, or 0.
5 percent, to $78.
17 a barrel, after rising as high as $
79.
05.
U.
S.
West Texas Intermediate (WTI) crude fell 25 cents, or 0.
3 percent
, to $74.
96.

Tamas Varga of oil broker PVM said global infection rates were rising, some countries were imposing restrictions, and industries such as air travel were affected, but investor optimism was tangible
.
In short, 2021 proves that despite the unexpected twists and turns on the road to victory, we can win this war
.

As records of cases of the Omicron variant sweep across the country, many U.
S.
schools that normally return to class on Monday are delaying their start dates, busy testing students and teachers, and preparing to return to remote learning as a last resort
.

Last year, Brent crude rose 50 percent, driven by the global recovery from the coronavirus pandemic and OPEC+ production cuts, despite a record number of infections worldwide
.

Some believe that 2022 will grow even more
.

UBS analysts, including Giovanni Staunovo, said in a note that crude oil and petroleum product prices should benefit from oil demand rising above
2019 levels.
We expect Brent crude prices to rise to $80-$90 per barrel in 2022
.