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Oil Industry News 4 January 2026 - 5 January 2026

Trump’s Venezuela Oil Takeover Push: PDVSA Cuts Output, Chevron and U.S. Refiners in Focus

Trump’s Venezuela Oil Takeover Push: PDVSA Cuts Output, Chevron and U.S. Refiners in Focus

NEW YORK, Jan 5, 2026, 02:44 ET — Market closed Venezuela’s state-run oil company PDVSA has started trimming crude output as a U.S. oil embargo — a government-ordered ban on trade — has choked off exports and squeezed storage capacity, sources familiar with the situation said. Reuters The cuts land as President Donald Trump moves to place the oil-rich nation under temporary American control after the U.S. captured President Nicolás Maduro over the weekend, putting Venezuela’s oil policy — and who ultimately controls the barrels — at the center of the market’s next move. Reuters Why this matters now: Venezuela’s
5 January 2026
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Venezuela oil exports hit zero after U.S. strike as PDVSA cuts output; Chevron shipments stall

Venezuela oil exports hit zero after U.S. strike as PDVSA cuts output; Chevron shipments stall

CARACAS, Jan 5, 2026, 02:46 ET — Market closed Venezuela’s state oil company PDVSA has started cutting crude production as it runs short of storage space under a sweeping U.S. oil embargo and tanker blockade that has pushed exports to zero, people familiar with the matter said. More than 17 million barrels of crude and fuel are stuck on ships waiting to depart, according to tanker-tracking data. Reuters The move matters for markets because Venezuela’s oil sales are the country’s main source of hard currency, and PDVSA’s forced shut-ins risk spilling into refining and domestic fuel supply in the coming
5 January 2026
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Chevron caught in Venezuela oil clamp as PDVSA cuts output under U.S. embargo

Chevron caught in Venezuela oil clamp as PDVSA cuts output under U.S. embargo

NEW YORK, Jan 4, 2026, 15:11 ET Venezuela’s state-run oil company PDVSA has begun cutting crude output as storage fills after a U.S. export embargo — enforced through a blockade of sanctioned tankers — halted oil exports, the country’s main source of revenue, sources said. Chevron-chartered tankers that had kept moving under a U.S. authorization have not left Venezuelan waters since Thursday, while PDVSA has struggled to import diluents — lighter oil and naphtha used to thin extra-heavy crude for transport. Reuters The export freeze puts a key OPEC supplier’s cash flow and operations at risk just as Washington’s pressure
4 January 2026
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U.S. seizes Venezuela’s Maduro after strikes, setting up oil and diplomacy fallout

U.S. seizes Venezuela’s Maduro after strikes, setting up oil and diplomacy fallout

WASHINGTON, Jan 4, 2026, 12:38 ET Venezuela’s ruling bloc said it remained unified behind President Nicolas Maduro on Sunday, a day after the United States attacked Venezuela and took Maduro and his wife into custody. With Maduro held in a New York detention center awaiting a court appearance on Monday on drug charges, ministers in Caracas said the detentions were a kidnapping and kept running the state as some residents cautiously stocked up on essentials. The seizure has injected fresh geopolitical risk into markets set to reopen on Monday, and raised questions about whether Washington can stabilise an oil producer
4 January 2026
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Venezuela oil exports freeze after U.S. Maduro raid: PDVSA warns of output cuts

Venezuela oil exports freeze after U.S. Maduro raid: PDVSA warns of output cuts

NEW YORK, January 4, 2026, 12:39 ET Venezuela’s state-run oil company PDVSA has asked some joint ventures to cut crude output as exports remain frozen after U.S. forces captured President Nicolas Maduro in a raid on Saturday, three people close to the decision said on Sunday. The move includes shutting oilfields or well clusters as onshore stocks rise and PDVSA runs short of diluents — light petroleum liquids used to thin extra-heavy crude so it can be shipped.  Reuters The export standstill matters because oil sales are Venezuela’s main source of hard-currency revenue, and storage fills quickly when tankers cannot
4 January 2026
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Exxon stock today: Venezuela shake-up and OPEC+ decision put XOM in focus for Monday

Exxon stock today: Venezuela shake-up and OPEC+ decision put XOM in focus for Monday

NEW YORK, Jan 4, 2026, 11:36 ET — Market closed Exxon Mobil Corp shares will be in focus when U.S. markets reopen on Monday after President Donald Trump said American oil companies were ready to spend billions of dollars to revive Venezuela’s oil infrastructure following the capture and removal of President Nicolas Maduro. Chevron is the only U.S. major currently operating in Venezuela, while Exxon and ConocoPhillips exited after projects were nationalized nearly two decades ago. “There are still many questions that need to be answered about the state of the Venezuelan oil industry, but it is clear that it
4 January 2026
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Valero stock (VLO) in focus after U.S. strike in Venezuela freezes oil exports

Valero stock (VLO) in focus after U.S. strike in Venezuela freezes oil exports

NEW YORK, Jan 4, 2026, 08:47 ET — Market closed Valero Energy Corp (VLO) shares are on watch for Monday after U.S. President Donald Trump’s strike in Venezuela paralyzed the country’s oil exports, with no tankers loading at the main port of Jose, sources told Reuters. Valero closed up 1.5% on Friday at $165.31. ( Reuters) The disruption matters for Gulf Coast refiners because many plants were built to process heavy crude — the type Venezuela produces — into transport fuels. Any shift in those barrels can move the price of heavy crude relative to lighter oil, changing refiners’ feedstock
4 January 2026
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Exxon Mobil stock: what to watch after U.S. strike on Venezuela and Trump oil-company push

Exxon Mobil stock: what to watch after U.S. strike on Venezuela and Trump oil-company push

NEW YORK, Jan 4, 2026, 08:36 ET — Market closed Exxon Mobil (XOM.N) will be in focus when U.S. markets reopen on Monday after President Donald Trump said U.S. forces struck Venezuela and captured President Nicolas Maduro. Trump later said U.S. oil companies would help rebuild Venezuela’s oil industry, thrusting the sector into the center of the weekend’s geopolitical shock. ( Reuters) The development hit with U.S. equity markets closed, leaving investors to price it through oil when trading resumes. For Exxon, which is not currently operating in Venezuela, the near-term transmission is crude prices and policy headlines, while any
4 January 2026
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Phillips 66 stock in focus after U.S. strike in Venezuela jolts crude flow outlook

Phillips 66 stock in focus after U.S. strike in Venezuela jolts crude flow outlook

NEW YORK, January 4, 2026, 08:39 ET — Market closed Phillips 66 shares will be in focus when U.S. trading resumes Monday after the United States seized Venezuelan President Nicolás Maduro in a Saturday operation that threatens to reshape crude flows and refinery economics. The refiner’s stock last closed at $130.57, up about 1.2%.  MarketWatch The weekend escalation matters now because it landed when markets were shut, forcing investors to reprice energy names at the next open with limited price discovery in between. For refiners such as Phillips 66, the key swing factor is whether Washington’s policy leads to a
4 January 2026
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Guyana’s oil boom fuels Georgetown makeover and eco-tourism push as university picks new chancellor

Guyana’s oil boom fuels Georgetown makeover and eco-tourism push as university picks new chancellor

NEW YORK, January 4, 2026, 04:06 ET Guyana is pouring cash from its offshore oil boom into hotels, roads and “ecotourism” — low-impact travel centered on nature and local communities — as it tries to draw more visitors beyond its small Caribbean-facing capital, Travel and Tour World reported on Saturday. The push matters now because Guyana’s new oil income is rapidly changing what the country can build and how fast. Tourism operators and policymakers face a narrow window to expand capacity without damaging the rainforests and wildlife that make the pitch credible. It also comes as the government highlights investment
4 January 2026
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Phillips 66 stock in focus after U.S. strikes Venezuela and Maduro’s capture raises oil-supply questions

Phillips 66 stock in focus after U.S. strikes Venezuela and Maduro’s capture raises oil-supply questions

NEW YORK, Jan 3, 2026, 18:26 ET — Market closed Phillips 66 shares are set to be in focus when U.S. markets reopen after President Donald Trump said U.S. forces attacked Venezuela and captured President Nicolas Maduro on Saturday. Maduro is expected to appear in Manhattan federal court on Monday and the U.N. Security Council is due to meet over the U.S. action, Reuters reported.  Reuters The developments matter for refiners because Venezuela’s crude is predominantly heavy oil — a thicker, lower-quality grade that many complex Gulf Coast refineries are built to process. Shifts in heavy-crude availability can quickly move
4 January 2026
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Chevron stock in focus after U.S. strike captures Venezuela’s Maduro, putting CVX’s Venezuela oil flows under a microscope

Chevron stock in focus after U.S. strike captures Venezuela’s Maduro, putting CVX’s Venezuela oil flows under a microscope

NEW YORK, Jan 3, 2026, 18:21 ET — Market closed Chevron (NYSE: CVX) was in focus on Saturday after President Donald Trump said U.S. forces struck Venezuela and captured President Nicolas Maduro. The stock last traded at $155.90, up 2.3% from the previous close, after ranging from $151.25 to $155.96 in Friday’s session.  Reuters Chevron said it was focused on employee safety and the integrity of its assets in Venezuela, where it is the only U.S. oil major still operating and exports around 150,000 barrels per day (bpd) of heavy crude from joint ventures with state oil company PDVSA. In
4 January 2026
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Stock Market Today

Wall Street Feels the Heat (and Thrill): Fed Cuts, Tariffs & Mega-Mergers Set NYSE Buzz

Stock Market Today 07.02.2026

7 February 2026
LIVEMarkets rolling coverageStarted: February 7, 2026, 12:00 AM ESTUpdated: February 7, 2026, 12:27 AM EST Dollar Dips as Stocks Rally and US Data Influences Fed Rate Expectations February 7, 2026, 12:18 AM EST. The **dollar index** fell 0.17%, pressured by a rebound in equity markets reducing demand for the safe-haven currency. Weaker-than-expected U.S. labor market data raised the odds of a Fed rate cut to 18% for March, though consumer sentiment improved to a six-month high, limiting losses. Hawkish comments from Atlanta Fed's Raphael Bostic emphasized maintaining restrictive monetary policy. The dollar faces medium-term weakness amid expectations for rate cuts
Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

Seagate (STX) stock jumps nearly 6% as Citi hikes target — what to watch next week

7 February 2026
Seagate shares rose 5.9% to $429.32 Friday after Citigroup raised its price target to $480 and reiterated a buy rating. The gain ended a two-day slide but left the stock 6.6% below its Feb. 3 high. CEO Dave Mosley sold 20,000 shares on Feb. 2 under a pre-arranged plan, SEC filings show. U.S. jobs and inflation data next week are seen as key tests for tech stocks.
Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

Cummins (CMI) stock price rebounds after earnings whipsaw as investors eye data-center power demand

7 February 2026
Cummins shares jumped 6.8% to $577.73 Friday, recovering from a nearly 9% post-earnings drop the day before. The company reported Q4 revenue up 1% to $8.54 billion, took a $218 million charge tied to its hydrogen business, and guided for 2026 EBITDA of 17–18% of sales. Demand for data center generators offset weakness in North American truck markets. Analyst reaction was mixed; Truist raised its price target.
Corning stock hits first record close since 2000 as jobs, CPI data loom

Corning stock hits first record close since 2000 as jobs, CPI data loom

7 February 2026
Corning shares surged 8.3% to $122.16 Friday, their highest close since the dot-com era, after Meta agreed to buy up to $6 billion in fiber-optic cables. The stock is up 40% since late 2025, fueled by strong first-quarter guidance and AI data-center demand. Insiders sold shares following the rally, SEC filings show. Investors await next week’s U.S. jobs and inflation data for rate signals.
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