Chevron, U.S. Refiners’ Shares Soar After Trump’s Venezuela Oil Move

U.S. oil company stocks climbed sharply on January 5, 2026, after President Donald Trump signaled that American firms could gain access to Venezuela’s vast but underdeveloped oil reserves following the U.S. detention of Venezuelan President Nicolás Maduro. Chevron — the only major U.S. oil company still operating in Venezuela under a special waiver — saw its shares rise about 7.3% in premarket trading, while U.S. refiners including Phillips 66, Marathon Petroleum, Valero Energy and PBF Energy also posted gains ranging roughly 5%–16% on expectations of increased heavy crude supply. Analysts noted that this shift could pave the way for U.S. companies like ConocoPhillips and ExxonMobil to recover assets or arbitration awards previously seized by Venezuela. Oilfield services companies such as Baker Hughes, Halliburton and SLB also rose, reflecting anticipated demand for infrastructure investment. However, oil prices remained relatively flat due to ample global supply and experts cautioned that reviving Venezuela’s oil industry would take time amid political uncertainty and deteriorated infrastructure. #VenezuelaOil #Chevron #USMarkets #EnergyStocks #SlimScan #GrowthStocks #CANSLIM