New York, Jan 22, 2026, 15:43 EST — Regular session
- Chevron shares edged up 0.1% in afternoon trading, bouncing back after swinging through a wide intraday range
- Oil dropped roughly 2%, dragging energy shares lower despite gains in U.S. stocks
- Traders are turning their attention to Chevron’s quarterly update on Jan. 30 for fresh guidance
Chevron Corporation shares edged up 0.1% to $166.88 in Thursday afternoon trading, bouncing between $164.89 and $167.48 earlier in the session. The stock had last settled at $166.73.
Chevron finds itself caught between two constantly shifting factors: oil prices and geopolitics. A drop in crude, combined with fresh headlines around Venezuela and its overseas exploration, has kept the stock moving mostly on short-term trading waves.
Chevron’s next key date is Jan. 30, when it will hold its fourth-quarter earnings call. CEO Mike Wirth and CFO Eimear Bonner are set to lead the discussion. 1
Oil dropped roughly 2% on Thursday as U.S. President Donald Trump backed off threats toward Greenland and Iran, wiping out what traders call a “risk premium” — extra price built in for potential supply disruptions. Ole Hansen, chief commodity analyst at Saxo Bank, described it as a “deflation of risk premium.” Tony Sycamore at IG put oil “at around $60 a barrel” amid easing tensions. 2
Tuesday saw Bloomberg News report that Turkey’s state-owned Turkish Petroleum is negotiating with Chevron over joint oil and gas exploration, according to a Turkish official familiar with the talks. The collaboration would include seismic studies and drilling, the report added. 3
Venezuela has quietly re-entered the oil scene. Valero and Phillips 66 snapped up Venezuelan crude cargoes from trading firm Vitol, under Washington’s arrangement with Caracas allowing exports of up to 50 million barrels, according to two sources who spoke to Reuters. The crude was priced roughly $8.50 to $9.50 a barrel below Brent, marking a discount to the global benchmark. This move follows earlier U.S. refinery buys linked to Chevron’s joint venture with Venezuela’s state oil company. 4
Exxon Mobil, Chevron’s U.S. counterpart, nudged up 0.03% to $133.65. U.S. indexes pushed higher, buoyed by positive economic data and a retreat from tariff concerns related to Greenland, a Reuters market report noted. 5
Chevron’s near-term moves hinge on crude staying close to $60 and the potential easing of the Venezuela trade. Traders are also watching to see if talks with Turkey push ahead or stall without a deal.
Those headlines can swing the other way, too. More Venezuelan output, a fresh rise in U.S. inventories, or steps toward resolving the Ukraine conflict would flood a market already fighting to sustain prices, usually dragging down Big Oil stocks.
Chevron’s Jan. 30 call is the next key date. Investors will be tuned in to how management addresses cash returns and spending plans if oil prices linger around $60.
