UPSC Current Affairs: Jan 5-11, 2026 - Key Facts
Essential UPSC current affairs for Jan 5-11, 2026: UN's 2026 economic forecast, Spice Routes Conference, National Sports Governance Act, and more. Test your knowledge with MCQs.
Category : Search result: Opec
UPSC Quiz: OPEC, Eurozone, Nobel Prize Rules & Current Affairs
Ace your UPSC Prelims 2026 preparation with this essential International Relations quiz. Test your knowledge on OPEC, Eurozone, Nobel Prize rules, and ongoing global conflicts. Revise key static and current topics now!
Iraq, Saudi Arabia Cut Oil Prices for Asian Market
Iraq reduces Basrah Medium crude price for Asian buyers in February, mirroring Saudi Arabia's move amid global oversupply concerns. Key details on OPEC dynamics and market outlook.
US Venezuela Oil Grab Disrupts OPEC, Global Market Balance
President Trump's plan to control Venezuela's oil output could reshape global markets, pressure prices, and challenge OPEC's influence. Read analysis on the geopolitical and economic fallout.
Trump's Venezuela Oil Gamble: A $100B Revival Challenge
After Maduro's arrest, Trump eyes U.S. oil firms' return to Venezuela. But with a history of nationalization & decay, can the world's largest reserves be revived? Analysis.
Trump's Venezuela Oil Move: A 40-Year Plan in Action
President Trump's audacious move to control Venezuelan oil stems from a 1980s fixation. We analyse the risks for US producers, global policy, and his inflation fight ahead of midterms.
Venezuela Oil Revival May Prolong Lower Global Prices
JP Morgan reports Venezuela's potential oil production surge after its presidential election could sustain lower global crude prices. Discover the market implications.
Oil falls on Venezuela supply hopes, Brent at $61.62
Oil prices declined as markets anticipate increased Venezuelan crude output post-US action. Analysts see potential for 500,000 bpd rise, but global demand and OPEC remain key. Read for price outlook.
World's Largest Oil Reserves 2025: OPEC Dominates
Venezuela holds the world's largest proven oil reserves in 2025. See where Saudi Arabia, Canada, Iran, and India rank in the global list. Key insights from OPEC's latest data.
Geopolitical Shocks Fail to Move Oil Prices in 2026
Crude oil prices fell for a third consecutive year despite turmoil in Venezuela and Iran. Discover how fracking and sanctions created a new, oversupplied market that reshapes global energy dynamics. Read the full analysis.
Venezuela Crisis 2026: Limited Oil Price Shock Explained
Analysis reveals why the US military action in Venezuela and Maduro's capture caused only a muted oil price reaction. Key insights for Gulf producers and global energy markets in 2026.
Venezuela, Iran Actions May Worsen 2026 Oil Glut
Geopolitical shifts in Venezuela and Iran could add to a projected 1.5-2 million barrel per day oil surplus in 2026, pressuring crude prices. Analysts warn scarcity fears are fading.
Oil Market to Absorb Maduro Shock Amid Record Supplies
Despite the dramatic capture of Venezuela's Maduro, analysts predict minimal oil price impact due to a record global supply surplus. Key facilities remain operational. Read the full analysis.
Oil Steady at $61 as Supply Surplus Offsets OPEC Risks
Oil markets opened 2026 cautiously as a forecast 3.8 million barrel daily surplus counters Middle East tensions. Key OPEC meeting set for Jan 4. Read the full analysis.
Clean Energy Metals Surge, Fossil Fuel Prices Slump in 2025
Record prices for silver and copper signal strong demand for electrification, while fossil fuel output booms lead to inventory pile-ups and price crashes. The energy transition is accelerating.
Oil Set for Deepest Annual Loss Since Pandemic, Down 20%
Crude oil prices are on track for their steepest annual decline since 2020, with a 20% drop this year. Key factors include a looming surplus, OPEC's upcoming meeting, and geopolitical tensions. Read the full analysis.
India's Oil Import Bill Falls 12% as Crude Prices Dip
India's oil import bill fell 12% to $80.9 billion in Apr-Nov FY26 despite higher volumes, as global crude prices averaged $67.6/barrel. Net oil & gas imports also declined over 12%. Read the full analysis.
Analysts: Crude Oil Under Pressure Until 2026 Due to Oversupply
Global crude oil prices are projected to remain subdued through 2026, with a structural oversupply outweighing geopolitical tensions. Analysts cite rising non-OPEC+ production and slowing demand growth. Read the full analysis.
Oil Gains on Ukraine Talks Deadlock, China's Fiscal Pledge
Oil prices tick higher as US-led Ukraine peace talks stall and China pledges fiscal support for 2026. Brent crude above $61. Analysis and market impact for Indian investors.
Oil Gains on Venezuela Blockade, Nigeria Strike
Crude oil heads for its biggest weekly gain since October, driven by US actions against Venezuela's oil shipments and a military strike in Nigeria. WTI holds above $58. Read the full analysis.
UAE's Overproduction Threatens OPEC's Future
The UAE is reportedly flouting OPEC+ quotas, producing up to 3.4 million barrels daily. This internal conflict could unravel the 65-year-old oil cartel. Read the full analysis.
Saudi Arabia Slashes Oil Price to Asia to 5-Year Low
Saudi Arabia cuts January 2026 crude oil price to Asia to a five-year low as OPEC+ raises output and supply surplus looms. Details on market impact and Chinese demand.
Global Oil Glut: Why Prices May Not Collapse in 2026
Global oil surplus could push prices lower in 2026, but geopolitical tensions from Ukraine to Venezuela may provide a floor. Experts analyse OPEC's role and market balance.
Global Markets: AI, Japan Stimulus, OPEC in Focus for December
Global markets gear up for December with Alphabet's AI surge, Japan's stimulus jitters, and OPEC's output hold. Key insights on stocks, bonds, and oil prices for investors.
OPEC+ to Keep Oil Output Unchanged for Q1 2026
OPEC+ is likely to maintain current oil production levels for early 2026, sources say, as the group navigates market pressures and a potential supply glut. Read the full analysis.
Oil Falls on Ukraine Peace Talks, OPEC Meeting in Focus
Crude oil prices declined as Ukraine-Russia peace negotiations continue. All eyes on upcoming OPEC meeting for output decisions. Get latest market updates.
JPMorgan Forecasts Oil Price Plunge to $30 by 2027
JPMorgan predicts Brent crude could fall to $30 by 2027 due to market oversupply. Discover what this means for India's economy and global oil dynamics.
OPEC hikes oil output by 137,000 BPD from December
OPEC makes strategic move to boost oil production by 137,000 barrels per day starting December, aiming to protect market share as US shale growth shows signs of slowing down.
China rapidly fills oil reserves amid price slump
China is rapidly filling its strategic petroleum reserves as global oil prices hit multi-month lows, raising questions about Beijing's energy strategy and market impact. Discover what this means for global energy markets.
Oil Prices Rebound After 3-Day Decline
Global oil markets stage recovery as attention shifts to Russian inventory data and Middle East tensions. Brent crude climbs above $83 amid supply concerns and geopolitical factors.
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