Preheat the oven to 325 degrees. Line a cupcake baking pan with paper liners and set aside.
Open the bottle and measure out 1 1/2 cups of champagne. Place in a saucepan and simmer for about 6-8 minutes and let it reduce until there’s only ¾ cup of liquid remaining. Let this concentrated liquid cool down to room temperature before adding to your batter. Reserve 1-2 Tablespoons for the buttercream frosting.
In a small bowl, measure and whisk together flour, baking powder, salt and set aside.
In a separate bowl, use an electric mixer to beat butter and vanilla together until smooth and creamy
Add sugar, vegetable oil and eggs. Continue mixing until combined.
Set the mixer to medium speed, gradually alternate between adding flour mixture and concentrated liquid champagne. Stir until each one is almost completely combined before adding the next. Scrape down sides and bottom of the bowl as you work.
Fill cupcake liners ¾ full and bake for 18-20 minutes.
Pink Champagne Buttercream Frosting
In a large bowl, using an electric mixer, beat butter, powdered sugar, vanilla and 2 tablespoons of the champagne reduction until smooth. Add milk as needed to reach desired consistency.
*I personally prefer only 1 Tablespoon of the reduction in the buttercream recipe for a subtle flavor, but you can use 2 for a more intense champagne flavor*See below for a box recipe for Pink Champagne Cupcakes!