Chevron (CVX) and Shell (SHEL LN) are close to clinching first big oil production deals with Venezuela since US capture of President Maduro, according to industry sources
Newsquawk Staff ·
Chevron (CVX) and Shell (SHEL LN) are close to clinching first big oil production deals with Venezuela since US capture of President Maduro, according to industry sources.
What it means
Chevron and Shell nearing oil production deals with Venezuela marks a significant shift in international energy relations following the U.S. capture of President Maduro. This development could lead to increased oil supply from Venezuela, impacting global oil prices and potentially easing pressure on energy markets. Keep an eye on how this affects WTI prices and related equities.
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