New York, Jan 12, 2026, 05:53 EST — Premarket
- Exxon shares climbed 1.4% in premarket trading following Trump’s suggestion to exempt the company from Venezuela sanctions.
- Treasury Secretary Bessent indicated that further Venezuela sanctions might be removed as early as next week.
- Oil prices slipped as traders balanced concerns over supply disruptions from Iran with potential boosts from Venezuelan exports.
Exxon Mobil Corp shares climbed 1.4% to $124.61 in U.S. premarket Monday. President Donald Trump suggested he could block the oil giant from investing in Venezuela, following CEO Darren Woods’ description of the country as “uninvestable.” 1
Washington’s push to revive Venezuelan oil exports and lure private investment into a sector crippled by sanctions and neglect is driving the headlines. For Exxon, a comeback would put its insistence on clear rules and strong safeguards to the test — adding a political edge to a stock that’s already sensitive to crude price moves.
Treasury Secretary Scott Bessent said Saturday to Reuters that more U.S. sanctions on Venezuela might be lifted as soon as next week to ease oil sales. He added that officials are exploring ways to repatriate the proceeds. Bessent also highlighted about $5 billion in Venezuela’s frozen IMF Special Drawing Rights as a possible source to aid economic recovery. 2
Oil executives have flagged that legal, security, and payment hurdles will ultimately determine if major investments materialize. Carlos Bellorin, analyst at Welligence, noted oilfield service firms might hold back, still chasing significant unpaid bills. At a White House meeting, Woods said Exxon adopts a “very long-term perspective” on projects spanning decades. Chevron’s Vice Chairman Mark Nelson claimed the company could boost Venezuelan output by 50% within two years, up from about 240,000 barrels per day (bpd). Repsol CEO Josu Jon Imaz went further, suggesting their production could triple in two to three years. 3
Crude prices edged lower as traders balanced the risk of supply disruption from Iran against possible Venezuelan export restarts. Brent slipped 0.4% to $63.12 a barrel, while U.S. West Texas Intermediate dropped 0.4% to $58.87. A U.S. official told Reuters that Trump is expected to meet senior advisers Tuesday to discuss options on Iran. Saul Kavonic of MST Marquee noted the market wants to “show me the disruption” before adjusting prices. Phillip Nova analyst Priyanka Sachdeva added prices appear range-bound unless demand picks up or supply takes a hit. 4
Exxon’s stock faces a familiar tug-of-war. Rising crude prices usually boost upstream profits, yet political developments can quickly become expensive setbacks if contract terms change. Premarket trading often amplifies these moves, especially on light volume.
The Venezuela story cuts both ways. A quicker flow of Venezuelan barrels might stoke worries of oversupply and weigh on oil-linked stocks. Yet, any hold-up in sanctions relief would leave investors uncertain about who gains access—and under what conditions.
Exxon is set to release its fourth-quarter results on Jan. 30, with an earnings call scheduled for 8:30 a.m. Central time. Investors will be tuned in closely to hear management’s take on capital spending discipline, how sensitive the company is to commodity price swings, and any risks tied to Venezuela policy. 5
