President Trump said "we're going to get the oil flowing the way it should be" after the surprise U.S. attack. Here's what to know about Venezuela's oil sector.

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Oil prices settled lower on Friday on the first trading day of 2026 after registering their biggest annual loss since 2020, as investors weighed oversupply concerns against geopolitical risks, including the war in Ukraine and Venezuela exports.

The American Petroleum Institute (API) announced a significant increase in the weekly crude stock, indicating a shift in US petroleum demand. The actual inventory levels of US crude oil, gasoline and distillates stocks rose to 2.4 million barrels, a stark contrast to the forecasted decrease.

Oil prices are forecasted to face a glut in 2026, forcing OPEC+ to maintain production cuts against global supply and geopolitical uncertainty.

Oil prices fell on Wednesday and recorded an annual loss of nearly 20%, as expectations of oversupply increased in a year marked by wars, higher tariffs, increased OPEC+ output and sanctions on Russia,

Crude oil prices fell nearly 20% in 2025 due to oversupply expectations and declining demand, marking significant annual losses.

Market experts are split on whether US military action in oil-rich Venezuela will trigger short-term volatility or eventually lower crude prices, potentially supporting Indian equities amid strong domestic fundamentals.

The country’s net oil and gas imports — crude oil, petroleum products, and natural gas — for the eight-month period were also down over 12 per cent year-on-year in value terms.

Crude oil and refined product futures contracts were again trading lower late Tuesday morning and U.S. crude oil contracts slipped below $55/bbl for the first time in nearly five years. Petroleum futures remain under pressure from continued oversupply ...