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 supply glut
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.
China's Rare Earth Ban on Japan Could Backfire
China's latest ban on rare earth exports to Japan may prove counterproductive, as Japan's decade-long diversification efforts and a global supply chain shift reduce Beijing's leverage. Read the full analysis.
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.
India to Benefit from 2026 Oil 'Super-Glut', Lower Prices
A potential oil 'super-glut' in 2026, fueled by Venezuela's return and rising supply, promises lower crude prices. As a major importer, India stands to gain significantly. Read the full analysis.
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.
Hyderabad Aims for 24x7 Water to Prevent Contamination
Experts warn Hyderabad's alternate-day water supply raises contamination risk. HMWSSB plans daily supply after new projects add 300 MGD. Read how continuous flow protects water quality.
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.
Rs 1 Crore Canal Water Project Launched in Ludhiana
Ludhiana gets a major water boost! A new Rs 1 crore canal water supply project promises to solve water scarcity for many residents. Learn how this initiative will transform the city's water infrastructure.
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.
Ahmedabad's Rs 140 Cr Garden Tenders Halted by AMC
Ahmedabad Municipal Corporation pauses Rs 140 crore garden tenders after objections, delaying tractor-trolley and labour supply services. Get the latest updates on this civic development.
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.
Chandigarh scraps Rs 1,700 crore French water project
Chandigarh's Municipal Corporation has unanimously abandoned the ambitious French-funded 24x7 water supply scheme. Councillors cite failed pilot, public disinterest, and political risks. Read the full story.
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 Falls 2% on Supply Glut, Ukraine Peace Deal in Focus
Crude oil prices fell sharply as oversupply fears dominate. Investors watch Ukraine-Russia peace talks for impact on sanctions and global markets. Read the full analysis.
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.
Coimbatore streets flooded after major pipeline bursts
A major feeder pipeline burst in Coimbatore's Saravanampatti, flooding streets with drinking water. Officials aim to repair the damaged Pillur scheme II line by Friday evening. Read for details and impact on North zone supply.
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.
Govt to announce sugar policy in January to prevent glut
The Indian government is set to announce measures in January to prevent a domestic sugar surplus and ensure timely payments to farmers. Key demands include a sugar MSP hike to ₹41/kg and increased ethanol blending.
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