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Commodity News Details
WTI crude rebounds near $58 as US-Venezuela tensions rattle markets
15-Dec-2025 13:39
WTI crude oil futures recovered near $58 per barrel on Monday, bouncing back from last week's 4% drop amid rising geopolitical tensions between the US and Venezuela. Any shift in President Maduro's regime could significantly impact Venezuelan oil production and US access to heavy crude. Meanwhile, OPEC and IEA monthly reports released last week highlighted that the global supply tightened by 610 kb/d in November due to OPEC+ cuts and sanctions on Russia and Venezuela, while the IEA projects 2025 oil demand to grow 830 kb/d, driven by gasoil and jet fuel, with petrochemicals leading 2026 growth. OPEC maintained its 2025 demand forecast at 1.4 million bpd. Domestically, MCX December crude futures edged higher to ₹5247 per barrel.

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