Oil stocks brace for Monday as Bessent hints Venezuela sanctions relief; Chevron, Exxon in focus
NEW YORK, Jan 11, 2026, 12:40 EST — Market closed U.S. oil inventories enter the new week with renewed focus on Washington’s timeline for Venezuela. Treasury Secretary Scott Bessent indicated more sanctions could be eased “as soon as next week” to boost oil exports. He mentioned Treasury is considering adjustments to allow proceeds from Venezuela’s oil—mostly stored on ships—to flow back into the country. Bessent also said he plans meetings next week with IMF and World Bank leaders. (Reuters) Why it matters now: quicker access for Venezuelan crude to the U.S. market would challenge an already narrow band for oil