Chevron is in talks with US government to expand Venezuela license and seeks authorisation to supply Venezuelan oil to other buyers, according to industry sources

• US government also wants other US companies involved in oil exports from Venezuela.

Chevron's negotiations with the US government to expand its Venezuelan license underscore a potential shift in US energy policy towards Venezuela, likely aimed at increasing oil exports amidst global supply challenges. If successful, this could not only impact WTI prices through the supply-in-demand dynamics but also suggests a broader re-engagement with Venezuelan oil, affecting the strategies of both US companies and international markets.