Chevron, Exxon shares in focus after US intervention in Venezuela
The Chevron logo is seen at a gas station in Austin, Texas, on July 18, 2025.
Brandon Bell | Getty Images
Shares of U.S. oil companies rose in premarket trading Monday as investors examined the consequences of the Trump administration’s surprise military operation in Venezuela.
Strip Its shares were up 8.4% at 10 a.m. London time (5 a.m. ET). ExxonMobil 4.1% increase and oilfield services giant SLB It climbs to 9%.
The moves come after the United States launched a major military operation in Venezuela over the weekend, capturing Venezuelan President Nicolas Maduro and his wife Cilia Flores in a daring intervention that sent shockwaves around the world.
US President Donald Trump has since said the White House will “manage” the South American country until such time as a “safe, appropriate and reasonable transition” can occur.
Venezuela is a founding member of OPEC, an influential energy alliance, and has the world’s largest proven crude oil reserves at 303 billion barrels. US Energy Information Administration. This represents approximately 17% of global oil reserves.
Trump said US investment in Venezuela’s energy sector is now one of his administration’s main goals.
“We’re going to have our largest U.S. oil companies anywhere in the world come in, spend billions of dollars, repair badly deteriorated infrastructure, oil infrastructure,” Trump said at a news conference at his Mar-a-Lago residence in Palm Beach, Florida.
“Let’s start making money for the country,” Trump said Saturday.
Oil prices were last slightly lower on Monday morning.
International comparison Brent Crude oil futures for March delivery were down 0.6% at $60.40 per barrel, while US West Texas Intermediate futures for February delivery were down 0.4% at $57.11.
— CNBC’s Spencer Kimball contributed to this report.
