Trump Meets Oil Giants to Discuss Venezuela
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Source: Newsfilter
- High-Level Meeting: President Trump revealed on Wednesday that he met with top officials from Chevron and ExxonMobil a day earlier to discuss matters related to Venezuela, indicating the administration's concern over the situation in the country.
- Energy Policy Impact: This meeting could influence U.S. energy policy towards Venezuela, particularly in the context of global energy market instability, as the Trump administration may seek to optimize energy supply through collaboration with major oil companies.
- Corporate Involvement: The participation of Chevron and ExxonMobil, as the largest oil companies in the U.S., underscores the significant role of corporations in international politics, which may affect future investment decisions and market dynamics.
- Geopolitical Considerations: Trump's discussions with oil giants not only involve business interests but may also reflect U.S. geopolitical strategy in Latin America, especially in addressing Venezuela's economic crisis and political turmoil.
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Analyst Views on CVX
Wall Street analysts forecast CVX stock price to fall
19 Analyst Rating
15 Buy
4 Hold
0 Sell
Strong Buy
Current: 182.500
Low
158.00
Averages
176.95
High
206.00
Current: 182.500
Low
158.00
Averages
176.95
High
206.00
About CVX
Chevron Corporation is an integrated energy company. The Company produces crude oil and natural gas; manufactures transportation fuels, lubricants, petrochemicals and additives; and develops technologies that enhance its business and industry. The Company’s segments include Upstream and Downstream. Upstream operations consist primarily of exploring for, developing, producing and transporting crude oil and natural gas; liquefaction, transportation and regasification associated with LNG; transporting crude oil by major international oil export pipelines; processing, transporting, storage and marketing of natural gas; carbon capture and storage; and a gas-to-liquids plant. Downstream operations consist primarily of the refining of crude oil into petroleum products; marketing crude oil, refined products, and lubricants; manufacturing and marketing of renewable fuels, and transporting of crude oil and refined products by pipeline, marine vessel, motor equipment and rail car.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Limited Consumption Impact: Despite reduced oil supplies, jet fuel consumption in the airline industry has only declined by about 5%, reflecting a relatively mild demand destruction, yet the market faces the largest supply disruption in history.
- Strait of Hormuz Blockade: The International Energy Agency noted that Iran has effectively blockaded the Strait of Hormuz, impacting about 20% of global oil supplies, with normal export recovery expected to take months, disrupting global supply chains.
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See More
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- Proactive Smaller Firms: ConocoPhillips has raised its capital budget from $12 billion to $12.5 billion to increase Permian activity in response to supply disruptions and higher oil prices, aiming to maintain operational efficiency.
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