New York, Jan 14, 2026, 20:48 EST — Market closed.
- SLB climbed 2.3% to close at $46.97 on Wednesday, hitting a fresh 52-week high.
- Volume surged past its recent average, driven by oilfield-services stocks that outperformed a softer broader market.
- Investors are watching U.S. actions on Venezuela closely, along with SLB’s earnings report due January 23.
Shares of SLB Ltd (NYSE:SLB) jumped 2.33%, closing Wednesday at $46.97. It marked their second day up and hit a fresh 52-week high, with trading volume well above the 50-day average. Baker Hughes climbed 2.06%, Halliburton gained 1.32%, while the S&P 500 slipped 0.53%. (MarketWatch)
The recent developments hold weight because the Venezuela trade has moved beyond speculation. Oil markets are factoring in a series of U.S. moves and talks that might ease restrictions on Venezuelan heavy crude. That could, in turn, boost demand for drilling and oilfield services offered by companies like SLB. (Reuters)
Chevron is set to get an expanded U.S. license “this week” that might enable increased production and exports from Venezuela, according to three oil-industry insiders who spoke to Reuters. The report also noted that other refiners and traders are applying for similar permissions as Washington seeks to manage Venezuelan oil shipments following the capture of President Nicolas Maduro. (Reuters)
Washington has wrapped up its initial Venezuelan oil sales under a $2 billion pact struck earlier this month, according to a U.S. official. The first batch, worth about $500 million, has its proceeds parked in U.S.-controlled bank accounts. (Reuters)
Physical prices are beginning to mirror that change. Venezuelan Merey-16 is now being offered to U.S. Gulf Coast refiners at a narrower discount to Brent compared to rival Canadian heavy barrels, according to two traders. This shift could steer more barrels southward and eventually ramp up upstream activity. (Reuters)
But SLB bulls face a hurdle Thursday as oil prices slipped in early Asian trade. Brent dipped to around $64.85 a barrel, while U.S. crude hovered near $60.48. Hiroyuki Kikukawa, chief strategist at Nissan Securities Investment, said “selling pressure prevailed” amid bets the U.S. won’t take military action against Iran. He added that WTI is expected to stay within a $55-$65 range “for the time being.” (Reuters)
Policy risk is front and center. On Wednesday, Senate Republicans blocked a war-powers resolution related to Venezuela, highlighting just how quickly the political landscape can turn. Much of the Venezuela investment story hinges on U.S. decisions that remain vulnerable to reversal or limitation. (Reuters)
SLB has its next major event on the horizon: the company plans to report fourth-quarter and full-year 2025 results on Jan. 23. A conference call will follow at 9:30 a.m. Eastern, coming after the earnings release at 7:00 a.m. (SLB)
Traders are eyeing Thursday’s U.S. data lineup ahead of the next session, with import/export prices and the EIA’s weekly natural gas storage report due later in the morning. They’ll also be looking for updates on Venezuela licensing and crude sales. (Bureau of Labor Statistics)
