U.S. oil producers already reeling from low oil prices are facing renewed pressures, as President Donald Trump pushes them to boost output in Venezuela - a move that would weaken the oil market, cut revenues and hurt industry at home.
The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.
Chevron is the only one of the three major U.S. oil companies that operates in Venezuela. ConocoPhillips and ExxonMobil exited Venezuela in 2007 after Hugo Chávez nationalized the industry.
SLB N.V. is upgraded to Buy with a $50.74/share price target, reflecting optimism around Venezuelan oil redevelopment and digital expansion. Reengagement in Venezuela could drive multi-year growth for SLB's oilfield services, though major operational impact may not materialize until late in the decade. SLB's digital initiatives, including the Tela AI assistant and AI development partnership wit...
Retail investors are rushing back into the market following a strong 2025. Everyday investors are particularly focused on oil-related stocks like Halliburton and Chevron following the strike on Venezuela.
U.S. oil companies want "serious guarantees" from Washington before they make large investments in Venezuela, as President Donald Trump urges them to back his bid to reshape energy markets, the Financial Times reported on Wednesday.
The U.S. is planning big changes for Venezuela's oil industry after ousting the country's president. Shares of a handful of U.S. companies stand to benefit from the upheaval.
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