U.S. President Donald Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry for years to come, and the president told aides he believes his efforts could help lower oil prices to $50 a barrel, the Wall Street Journal reported on Wednesday. A plan under consideration includes the U.S. exerting some …
(Reuters) – The discount on Western Canada Select to North American benchmark West Texas Intermediate futures grew on Wednesday to its widest point in 18 months as investors digested U.S. President Donald Trump’s deal to import up to $2 billion worth of Venezuelan crude. WCS for February delivery in Hardisty, Alberta, settled at $14.45 a …
Canadian Crude at 18-Month Low Versus WTI as Venezuelan Turmoil Rattles Market Read More »
(Reuters) – Oil producer Chevron is in talks with the U.S. government to expand a key license to operate in Venezuela so it can increase crude exports to its own refineries and sell to other buyers, four sources close to the negotiations said on Wednesday. The talks come as Washington and Caracas progress in negotiations …
Chevron in Talks With US Government for Expanded Venezuela License, Sources Say Read More »
(Reuters) – U.S. oil major Exxon Mobil said on Wednesday that lower crude oil prices could cut its fourth-quarter upstream earnings by about $800 million to $1.2 billion. Oil prices declined 9.2% during the three months ended December 31, as concerns about oversupply and tariffs outweighed geopolitical risks. Brent crude futures shed about 19% in …
Exxon Signals Fall in Fourth-Quarter Upstream Profit Read More »
(Reuters) – EOG Resources said on Wednesday that oversupply from Venezuela is driving oil prices down and it would last for several more quarters. Brent crude futures were down about 0.6% at $60.30 a barrel in the day, while U.S. West Texas Intermediate crude lost about 1% to $56.53 a barrel. Prices fell as investors …
EOG Resources Says Venezuela Oversupply is Driving Shale Prices Down Read More »
(Reuters) – Russia said on Wednesday that the U.S. seizure of a Russian-flagged oil tanker in the Atlantic was a violation of maritime law, and a senior lawmaker described it as “outright piracy”. Russia’s Transport Ministry said contact with the vessel, the Marinera, had been lost after U.S. naval forces boarded it near Iceland as …
Russia Says US Seizure of Oil Tanker is Illegal, Lawmaker Calls it Piracy Read More »
Chevron and private equity group Quantum Energy Partners are teaming up on a bid to buy the international assets of Russian oil major Lukoil, which are valued at $22 billion, the Financial Times reported on Wednesday. Chevron, Quantum, Lukoil and the White House did not immediately respond to requests for comment. Reuters reported in November …
The vessel tanker Bella 1 at Singapore Strait, after U.S. officials say the U.S. Coast Guard pursued an oil tanker in international waters near Venezuela, in this picture taken from social media on March 18, 2025. Hakon Rimmereid/via REUTERS WASHINGTON, Jan 7 (Reuters) – The United States is attempting to seize a Venezuela-linked oil tanker …
US Seizing Venezuela-Linked Oil Tanker After Weeks-Long Pursuit Read More »
Overview Oil prices diverged from the broader trend of rising metals and North American natural gas. WTI fell to lows near US$55/bbl, driven by abundant U.S. supply, growing output from Canada and Guyana, and continued flexibility from OPEC, which together outpaced demand growth. Profoundly impacted by past downturns, Canadian producers became resilient, supported by stronger …
January 2026 Energy Market Overview: Fundamentals Amid Transition Read More »
MIAMI (AP) — In 2017, as political outsider Donald Trump headed to Washington, Delcy Rodríguez spotted an opening. Then Venezuela’s foreign minister, Rodríguez directed Citgo — a subsidiary of the state oil company — to make a $500,000 donation to the president’s inauguration. With the socialist administration of Nicolas Maduro struggling to feed Venezuela, Rodríguez …
How Delcy Rodríguez Courted Donald Trump and Rose to Power in Venezuela Read More »
