New York, Jan 12, 2026, 18:53 EST — After-hours
- Trump indicated he might block Exxon from pursuing investments in Venezuela after the CEO labeled the country “uninvestable”
- Oil hit seven-week highs on concerns over Iran exports, while expectations of Venezuelan supply kept gains in check
- Attention shifts to U.S. policy on Venezuela and Exxon’s quarterly earnings due January 30
Exxon Mobil shares slipped in after-hours trading Monday following President Donald Trump’s comment that he might block the oil giant from Venezuela’s reopening—a rare public rebuke aimed at the company’s CEO.
This episode is crucial as Washington moves fast to redirect Venezuela’s oil shipments following last week’s power shift in Caracas. Investors are scrambling to figure out which producers could tap into those barrels—and on what terms.
Exxon investors now face an extra political risk on top of an already volatile oil market. Moves benefiting Venezuela’s competitors might not shift the needle much right away, but over time, large projects there could impact cash flow.
Trump told reporters he “didn’t like” Exxon’s position after CEO Darren Woods called the country “uninvestable” given current legal and commercial conditions. Woods pointed to past asset seizures and said Exxon would require strong investment protections and changes to hydrocarbon laws before thinking about a comeback, Reuters reported. (Reuters)
Behind the scenes, oil executives have pushed hard for clear answers on sanctions relief, security, and contract details, stressing that reviving Venezuela’s oil sector won’t happen overnight. Carlos Bellorin, an analyst at consultancy Welligence, noted that oilfield service firms might hold back on deploying equipment while still owed large payments. Chevron’s vice chairman told Trump the company could boost output by 50% within two years through upgrades to existing infrastructure, according to Reuters. (Reuters)
Crude prices held steady, with Brent closing up 0.8% at $63.87 a barrel and U.S. West Texas Intermediate gaining 0.6% to $59.50—both hitting seven-week highs. Concerns over a drop in Iran’s exports amid unrest fueled the rise, though hopes for Venezuela’s export restart capped the upside. Goldman Sachs, however, warned that prices may ease later this year as fresh supply pushes the market into surplus. (Reuters)
Exxon shares slipped roughly 0.5% to $124.03, trading between $122.58 and $124.55 during Monday’s session, market data shows.
Energy stocks showed a mixed picture. Chevron edged up modestly, but ConocoPhillips slipped, highlighting how news from Venezuela is driving selective plays within the sector instead of pushing all names higher together. (MarketWatch)
The Venezuela factor remains tricky to pin down. Trump’s remarks might be more strategic posturing than policy change. But if exports from Venezuela pick up quickly, that could push crude prices lower, squeezing producers’ upstream operations — the side of the business that deals with oil and gas production.
Investors face a more immediate trigger: Exxon plans to release its fourth-quarter results on Jan. 30, followed by an earnings call at 8:30 a.m. CST, according to the company’s investor website. (Exxon Mobil Corporation)
Traders will be on alert before Tuesday’s open for new White House details on which companies can operate in Venezuela and under what legal terms. They’ll also track crude oil moves linked to supply news from Iran and Venezuela.
