NEW YORK, January 3, 2026, 06:59 ET — Market closed
- The United States carried out strikes inside Venezuela early Saturday, and President Donald Trump said President Nicolás Maduro had been captured. Reuters
- Occidental shares rose 3.06% on Friday and the company confirmed it closed a $9.7 billion sale of its OxyChem unit in an SEC filing. MarketWatch
- Traders head into Monday watching crude’s reopen, Sunday’s OPEC+ meeting and any signs of oil-supply disruption in Venezuela. Reuters
Occidental Petroleum shares are set to be a focal point when U.S. markets reopen after the United States launched strikes inside Venezuela early Saturday, a sharp escalation in Washington’s campaign against President Nicolás Maduro. Reuters
The timing matters because oil entered 2026 under pressure after both Brent and U.S. crude posted steep 2025 declines, leaving traders sensitive to any supply shock. Venezuela holds the world’s largest crude reserves, and its politics can quickly spill into oil markets. Reuters
Occidental closed Friday up 3.06% at $42.38. In a Form 8-K — a U.S. securities filing used to disclose major corporate events — the company said it completed the sale of its OxyChem chemicals business to Berkshire Hathaway for $9.7 billion in cash. MarketWatch
Trump said Maduro and his wife had been captured and flown out of the country and promised more details at a press conference. Venezuelan officials condemned the operation and said civilians and military personnel were killed, without giving figures. Reuters
Initial assessments showed PDVSA’s oil production and refining were normal on Saturday and key facilities suffered no damage, two sources familiar with the company’s operations told Reuters. The port of La Guaira near Caracas suffered severe damage but is not used for oil operations, one of the sources said. Reuters
Oil markets had leaned bearish heading into the weekend. Brent futures settled Friday down 10 cents at $60.75 a barrel and U.S. West Texas Intermediate (WTI) eased 10 cents to $57.32 as oversupply worries outweighed geopolitical risks, Reuters reported. Reuters
That supply focus will collide with fresh Venezuela headlines when crude futures reopen. OPEC+ — the Organization of the Petroleum Exporting Countries plus allies such as Russia — meets Sunday, and traders widely expect it to keep output increases on hold for the first quarter. Reuters
Occidental’s own catalysts are also fresh. “This transaction accelerates our strategy to strengthen Occidental’s balance sheet and focus on our deep and diverse oil and gas portfolio,” Chief Executive Vicki Hollub said in a press release attached to the filing. SEC
The same release said an Occidental unit will retain legacy tort claims and environmental liabilities tied to historical OxyChem operations, with remediation spending expected over “many years.” For investors, the trade-off is a simpler, more oil-weighted company with clearer focus on capital allocation after the $9.7 billion cash inflow. SEC
Other oil-linked stocks rallied with Occidental on Friday, with Chevron up 2.29% and Exxon Mobil up 1.86%, while shale producer Devon Energy gained 3.74%. Broader U.S. indexes also rose. MarketWatch
The near-term forecast for OXY hinges on the size of any “risk premium” — the extra price buyers pay when supply is uncertain — that shows up in crude when trading resumes. Reuters’ report that Venezuela’s oil system was operating normally suggests an immediate export hit is not the base case, but markets can reprice quickly if logistics tighten even without field damage. Reuters
Before the next session, traders will look for official U.S. detail on targets and for clarity from Venezuelan authorities on Maduro’s status, a point Venezuelan officials have said they could not confirm. Any change in Caracas’ ability to operate ports and security around energy infrastructure will be a key watchpoint for oil-linked equities. Reuters
Technically, Occidental enters the week with shares about $2.25 below their 52-week high of $53.20. A push toward that level would put the November peak back in play, while a slip back toward the low-$40s would unwind part of Friday’s move. MarketWatch
Beyond geopolitics, investors are digesting Occidental’s reshaped business mix and the pro forma financials included in the 8-K tied to the OxyChem divestiture. The company has not announced its next earnings date; Nasdaq’s earnings calendar currently lists an estimated report date of Feb. 17. SEC
