Crude prices fell Monday as concerns about demand spurred on by the rapid global rise in Omicron COVID-19 infections overtook concerns about oil supply reduction from Kazakhstan. OPEC’s output in December rose by 70,000 bpd from the previous month versus the 250,000 bpd increase agreed upon in the OPEC+ supply deal. Brent closed down 88 cents to settle at $80.87 while WTI fell 67 cents to settle at $78.23.

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