Preheat your oven to 325°F (160°C) and line your cupcake pan with cupcake liners.

Measure out 1½ cups of pink champagne and reduce it in a saucepan over medium heat until about ¾ cup.

In a mixing bowl, whisk together 2 cups of flour, 2 teaspoons of baking powder, and ½ teaspoon of salt.

In another bowl, beat together ½ cup of salted butter and 1 teaspoon of vanilla until creamy, then add 1 cup of sugar and ⅓ cup of vegetable oil.

Add 2 large eggs one at a time, mixing well after each.

Combine the dry flour mixture with the reduced champagne, alternating between them, starting and ending with flour.

Fill the cupcake liners about ¾ full and bake for 18-20 minutes.

In a bowl, beat together ½ cup of unsalted butter and 2 cups of confectioners sugar, then add 1 teaspoon of vanilla and the reserved champagne reduction.

Decorate cooled cupcakes with frosting and sprinkle with pink pearl decorations.