Group 1 - The Western sanctions against the Russian oil and gas industry continue, with the US and EU implementing new restrictions on Russian oil companies, impacting global oil trade flows [1][2] - The sanctions have led to a temporary increase in international oil prices, with NYMEX and ICE crude oil contracts rising significantly, although prices have since retracted [2][3] - India's oil imports from Russia are expected to be affected, with a slight decrease projected for 2025, but overall imports remain significantly higher than in 2022 [2][3] Group 2 - Indian refiners are likely to comply with the sanctions, but the search for alternative crude sources will impact oil prices in India and globally [3] - The Indian refining sector is adjusting its crude import structure, increasing imports from Colombia, Canada, and the Middle East while reducing Russian crude imports [3] - OPEC+ has decided to pause production increases in the first quarter of 2026 after a slight increase in December, reflecting concerns over global supply-demand balance amid geopolitical risks [4][5] Group 3 - OPEC+ aims to balance market share and oil prices, having restored significant production levels since April, but faces challenges from US shale oil production [4][5] - There is a notable divergence in forecasts between OPEC and the International Energy Agency regarding global oil demand and supply, indicating uncertainty in the market [5]