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NYSE:CVX 5 January 2026 - 7 January 2026

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Oil price forecast: Brent, WTI slide on Trump Venezuela move as 2026 surplus looms

Oil price forecast: Brent, WTI slide on Trump Venezuela move as 2026 surplus looms

Oil prices fell on Wednesday after President Donald Trump said Venezuela would turn over 30 million to 50 million barrels of sanctioned crude to the United States, feeding fears of more supply in an already well-stocked market. Brent crude futures were down 40 cents, or 0.7%, at $60.31 a barrel by 11:05 a.m. ET, after touching $59.88, and U.S. West Texas Intermediate was down 74 cents, or 1.3%, at $56.39 after hitting $55.76; both benchmarks slid more than $1 in the previous session. SEB analyst Ole Hvalbye called the volumes small next to the U.S. Strategic Petroleum Reserve, the emergency stockpile, while Morgan Stanley estimated the market could tip into a surplus of up to 3 million barrels per day in the first half of 2026. Reuters
7 January 2026
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Trump’s Venezuela oil plan starts now: 30–50 million barrels headed for U.S.

Trump’s Venezuela oil plan starts now: 30–50 million barrels headed for U.S.

The Trump administration will start moving Venezuelan crude to the United States immediately, shipping an initial 30 million to 50 million barrels and keeping sales running indefinitely, a senior Trump administration official said on Wednesday. The official said Washington would selectively ease sanctions to help keep Venezuelan crude and refined products flowing to global markets. Reuters
7 January 2026
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Chevron stock edges higher as $22 billion Lukoil-bid talk collides with Venezuela supply headlines

Chevron stock edges higher as $22 billion Lukoil-bid talk collides with Venezuela supply headlines

Chevron Corp shares inched up on Wednesday as investors digested a report that private equity group Quantum Energy Partners is working on a bid that could involve Chevron for the international assets of Russia’s Lukoil, even as weaker oil prices kept a lid on energy stocks more broadly. The stock was up 0.1% at $156.68 by late morning in New York, after trading between $155.19 and $159.60; Exxon Mobil was down about 1.2%, ConocoPhillips fell 1.3% and Occidental Petroleum slid 1.5%. Reuters
7 January 2026
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Oil stocks, USO ETF slide in premarket as Trump Venezuela crude plan stirs supply fears

Oil stocks, USO ETF slide in premarket as Trump Venezuela crude plan stirs supply fears

U.S. oil stocks and oil-linked exchange-traded funds slipped in premarket trading on Wednesday as crude prices fell after President Donald Trump said the United States struck a deal to import up to $2 billion worth of Venezuelan crude. Brent futures were at $60.59 a barrel and U.S. West Texas Intermediate at $56.86 by 1104 GMT. “Market participants seem to believe now that those volumes could be smaller,” UBS analyst Giovanni Staunovo wrote, though Morgan Stanley has flagged a possible surplus of up to 3 million barrels per day in early 2026. Reuters
7 January 2026
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Venezuela oil deal puts Chevron, Valero and PBF in focus before the U.S. open

Venezuela oil deal puts Chevron, Valero and PBF in focus before the U.S. open

Chevron fell 4.4% in premarket trading after President Donald Trump said the United States had reached a deal to import up to $2 billion of Venezuelan crude — roughly 30 million to 50 million barrels — to be sold at market prices. Valero, Marathon Petroleum, Phillips 66 and PBF Energy were down between 1.2% and 7.7%, while Canadian Natural Resources and Cenovus slipped about 2% and Baker Hughes rose 0.6%. Chevron controls Venezuelan oil flows to the United States under a U.S. authorization and has been exporting 100,000 to 150,000 barrels per day, while traders said the prospect of added supply pushed some U.S. Gulf heavy-crude differentials — the price gap to benchmark grades — about 50 cents lower on Tuesday. Reuters
7 January 2026
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Oil Stocks Slide Premarket: Chevron, Exxon Hit by Venezuela Supply Deal — What to Watch Next

Oil Stocks Slide Premarket: Chevron, Exxon Hit by Venezuela Supply Deal — What to Watch Next

Chevron and Exxon Mobil slid in U.S. premarket trading on Wednesday as crude prices fell after U.S. President Donald Trump said Venezuela would supply up to $2 billion worth of oil to the United States. Chevron was down 4.4% at $156.54 and Exxon fell 3.4% to $121.05, while ConocoPhillips dropped 2.2% to $97.11; Brent was down 0.6% at about $60.35 a barrel and U.S. WTI fell 0.9% to roughly $56.61. Reuters
7 January 2026
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Chevron stock jumps on Trump Venezuela oil move; traders eye sanctions and Jan. 30 earnings

Chevron stock jumps on Trump Venezuela oil move; traders eye sanctions and Jan. 30 earnings

Chevron shares rose 5.7% to $164.78 in early afternoon trading on Monday, after swinging between $159.33 and $171.50. ConocoPhillips gained 3.3% and Exxon Mobil added 2.4% as traders rotated into oil names after U.S. forces captured Venezuelan President Nicolás Maduro and investors bet the move could reshape access to the country’s crude. Reuters
5 January 2026
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Why Exxon Mobil stock is up today: Venezuela shock lifts XOM as oil prices firm

Why Exxon Mobil stock is up today: Venezuela shock lifts XOM as oil prices firm

Exxon Mobil Corp shares rose about 2% to $125.08 in midday trading on Monday, as energy stocks gained after U.S. forces captured Venezuelan President Nicolas Maduro over the weekend. Analysts at J.P. Morgan said the upheaval could improve the odds Exxon recovers arbitration damages — compensation ordered by an arbitration panel after a legal dispute — tied to assets seized in 2007. Reuters
5 January 2026
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Chevron stock jumps on Trump’s Venezuela oil pivot; CVX eyes Jan. 30 earnings call

Chevron stock jumps on Trump’s Venezuela oil pivot; CVX eyes Jan. 30 earnings call

Chevron shares jumped on Monday after President Donald Trump said the United States would take control of Venezuela following the arrest of President Nicolas Maduro and that U.S. oil companies would help rebuild the country’s oil industry. The stock was up 3.8% at $161.87 in early trade, after touching $171.50 soon after the open. Trump said an embargo on Venezuelan oil exports would remain in place for now. Reuters
5 January 2026
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S&P 500, Nasdaq futures climb as Venezuela takedown lifts Chevron and puts AI back in focus

S&P 500, Nasdaq futures climb as Venezuela takedown lifts Chevron and puts AI back in focus

U.S. stock index futures rose on Monday, led by energy shares after the United States captured Venezuelan President Nicolás Maduro in a military operation that investors see as a potential turning point for access to the country’s oil. S&P 500 futures were up about 0.3% and Nasdaq futures gained roughly 0.7% in premarket trading.
5 January 2026
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