Already, oil prices have hit seven-year highs in recent days over the ratcheting tensions between the West and Russia over Ukraine.

China's raw coal production increased by 4.7% to 4.07 Gt in 2021 and imports grew by 6.6% to 320 Mt,

While US gas production was largely unchanged in the 2020 to 2021 new year, production declines of varying magnitudes and durations were recorded over at least the five new year's prior, dating back to the 2015-2016 winter season.

Global hard coal production increased by more than 5% in 2021

Japan has found "considerable gas shows" in a series of the country's funded drilling operations conducted by INPEX until the fiscal year 2019-20 (April-March), marking the first domestic project, which enters an exploration phase with the support of the government's geological structure surveys,

Iraq, OPEC's second largest producer, has a January quota of 4.281 million b/d.

Libya's crude production averaged around 1.11 million b/d in 2021, compared with 360,000 b/d and 1.05 million b/d in 2020 and 2019 respectively.

With Russia nearing its maximum capacity and Nigeria, Angola and several other countries struggling to maintain output, OPEC+ sustainable spare capacity will shrink to just 1.2 million b/d by June, lessening the group's ability to offset disruptions.

The country's oil production is set to reach the pre-pandemic level by May next year, as the OPEC+ alliance continues to increase output monthly to meet rising demand.

Preliminary production figures for November 2021 show an average daily production of 1 999 000 barrels of oil, NGL and condensate.