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BTCC / BTCC Square / Global Cryptocurrency /
Exxon, Chevron Rally as US Tightens Grip on Venezuelan Oil

Exxon, Chevron Rally as US Tightens Grip on Venezuelan Oil

Author:
Global Cryptocurrency
Published:
2026-01-05 16:36:02
11
1
BTCCSquare news:

US oil majors Exxon Mobil and Chevron surged following military intervention in Venezuela. Exxon shares gained 2% Monday, extending a 4.6% five-day rally. Chevron jumped 4.8%, marking its strongest uptick since April 2025. The Biden administration's capture of President Maduro signals a strategic pivot toward controlling Venezuela's energy sector.

"We're deploying our world-class oil companies to rebuild Venezuela's broken infrastructure," President TRUMP declared. Chevron remains the sole US operator in Venezuela under special license. Market reaction suggests investors anticipate accelerated resource extraction under American oversight.

Geopolitical tensions simmer as allies condemn the intervention. The MOVE strengthens Washington's hand in global oil markets while raising ethical questions about resource nationalism. Energy traders now watch whether production gains will offset potential supply disruptions from retaliatory actions.

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