Crude Oil Prices Fall Amid Global Oversupply
Crude oil futures drop on MCX as global oversupply fears and weak international cues weigh.
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LUCKNOW-Crude oil futures dropped on the Multi Commodity Exchange (MCX) this Friday as oversupply concerns for 2026 dominated sentiment. January delivery contracts slipped to ₹5,200 per barrel, reflecting a 0.44% decline, as traders reacted to rising global inventories and sluggish demand.
Weak global cues and expectations of a supply glut have pressured energy markets early this year. Despite geopolitical tensions, including U.S. sanctions on Venezuelan tankers, analysts suggest that high production from non-OPEC+ nations is capping potential price rallies in the short term.
