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Brent Crude Holds Steady as Venezuelan Exports Ramp Up

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Published: January 27, 2026

Market Balance

The arrival of Venezuelan cargoes in India and Europe is easing the tightness in heavy crude grades. This improved availability is narrowing the spread between Brent and Dubai crude.

2026 Bearish Outlook

The IEA's forecast for a significant surplus in 2026 continues to weigh on long-term sentiment. Investors are hesitant to chase prices higher, fearing a supply-driven correction later in the year.