New York, Feb 14, 2026, 15:25 EST — Market closed
- Chevron shares bounced back Friday, finishing 0.7% higher after tumbling sharply the previous session.
- The company’s exposure is back in the spotlight as U.S. sanctions shift, with new Venezuela blocks in the conversation again.
- Oil edged up Friday, though all eyes now shift to the sector’s next big hurdle: the upcoming OPEC+ meeting.
Chevron Corp rebounded Friday, finishing up 0.73% at $183.74. The day before, shares had dropped 1.84%. During Friday’s session, the stock moved between $181.72 and $184.84. (StockAnalysis)
Washington loosened restrictions on Venezuela’s oil industry Friday, granting wide-ranging licenses that allow big foreign players to stay in the game and open the door to fresh investment discussions. Chevron called the decision “important steps toward enabling the further development of Venezuela’s resources,” according to a spokesperson. (Reuters)
This matters for Chevron for a simple reason: investors are still guessing how to value Venezuela exposure, lacking a real playbook. The paperwork’s in place now—though strings remain attached, and political risk hasn’t gone anywhere.
Late Thursday, Bloomberg tossed another headline into the mix: Venezuela could hand out additional oil drilling and production blocks to Chevron and Spain’s Repsol as early as this week. Both Chevron and Repsol stayed silent, declining to comment when asked, according to Reuters. (Reuters)
Oil remained in focus. Brent crude managed a 0.3% gain, closing at $67.75 a barrel, while U.S. West Texas Intermediate eked out a small rise to settle at $62.89. Both contracts still ended the week lower after some wild sessions. “Looks like inflation is stabilizing,” said Dennis Kissler, senior vice president of trading at BOK Financial, though he flagged OPEC supply as the key variable. (Reuters)
OPEC+ is signaling a possible restart of oil output hikes beginning in April, according to three sources who spoke with Reuters. Eight producing nations are set to convene on March 1. Russian Deputy Prime Minister Alexander Novak cited rising spring demand: “Starting from around March and April, demand is gradually increasing.” (Reuters)
Energy names took different paths on Friday. Exxon Mobil dropped 0.99%, but Chevron managed a 0.73% rise and ConocoPhillips tacked on 0.54%, according to MarketWatch data. (MarketWatch)
Chevron filed its usual insider reports. On Feb. 12, Chief Technology & Engineering Officer Thomas Ryder Booth disclosed a Form 4 showing restricted stock units converting into common stock and sales for tax withholding, plus a minor sale from a trust. (SEC)
The “more Venezuela” bullish thesis isn’t without hurdles. Fresh projects often need distinct U.S. permits, and political winds can shift fast. Oil faces similar uncertainty if OPEC+ dumps extra barrels during a demand lull.
U.S. markets are set to resume trading Tuesday, with Monday’s Presidents Day keeping exchanges shut on Feb. 16. Traders are eyeing any new moves by U.S. regulators concerning Venezuela permits, and looking ahead to cues ahead of the March 1 OPEC+ meeting. (nyse.com)
