NEW YORK, Jan 9, 2026, 18:27 (ET) — After-hours
Chevron (CVX) shares rose about 1.8% on Friday and last traded at $162.11 in after-hours dealings. The stock ranged from $159.48 to $162.69 during the session.
The move comes as investors weigh a possible shift in U.S. policy toward Venezuela that could directly affect Chevron, which is the only U.S. oil major still operating there under a sanctions carve-out. Reuters reported on Wednesday that Chevron is in talks with the U.S. government to expand the license, potentially allowing it to increase crude exports to its own refineries and sell barrels to other buyers. Reuters
Washington’s attention is not limited to one company. The White House convened a meeting on Friday with oil majors, traders and drillers to discuss potential investment in Venezuela’s energy sector, according to a White House official. Reuters
Oil prices added another tailwind late in the day. Brent, the global benchmark, settled up 2.18% at $63.34 a barrel and U.S. West Texas Intermediate (WTI) crude rose 2.35% to $59.12 as unrest in Iran and the Russia-Ukraine war stirred supply worries. “The uprising in Iran is keeping the market on edge,” said Phil Flynn, senior analyst at Price Futures Group. Reuters
A separate filing showed Chief Financial Officer Eimear P. Bonner exercised options for 28,334 Chevron shares and sold the same number at $165.05 on Jan. 5. The sale was made under a 10b5-1 plan, which allows insiders to set up trades in advance. SEC
Peers were mixed. Exxon Mobil gained about 1.4%, while ConocoPhillips fell about 1.2%, and refiners lagged with Valero down more than 3% and Marathon Petroleum off about 0.5%.
But more Venezuelan barrels could cut both ways for the sector if they add to supply in an already well-stocked market. “This recent move to redirect Venezuelan crude to the U.S. … will put pressure on domestic shale producers,” said Linhua Guan, CEO of Surge Energy America, while Dan Pickering, chief investment officer at Pickering Energy Partners, said prices could slide until OPEC cuts production or U.S. drillers slash budgets. Reuters
Investors will get the next clear checkpoint on Jan. 30, when Chevron holds its fourth-quarter earnings conference call. Any guidance on cash returns and how Venezuela-related flows could affect refining feedstock and upstream realizations will be closely watched. chevroncorp.gcs-web.com
