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Exxon stock hit a record as investors backed the oil giant’s cautious stance on Venezuela, even as President Trump signaled frustration over its hesitation.
As other oil executives lavished President Trump with praise at the White House, Exxon Mobil CEO Darren Woods bluntly said the Venezuelan oil industry is currently “uninvestable,” and that major reforms are required before even considering committing the many billions of dollars required to revitalize the country’s dilapidated crude business.
President Donald Trump is set to meet with Big Oil executives Friday as part of a weeklong charm offensive to persuade America’s largest energy companies to return to Venezuela.
President Trump wants to drive down oil prices to $50 a barrel. Getting to that price appears doable with Venezuela, though keeping it there comes with risks.The good news for the administration is that, if the real goal is to lower gasoline prices for U.S. consumers, global oil prices might not need to come down that much.
How AI, geopolitics, and policy uncertainty will redefine energy markets and capital strategy in 2026—and where opportunity emerges.
Venezuela was 2026’s first geopolitical wildcard.
Dan Pickering Joins Bloomberg Surveillance with Jonathan Ferro and Annmarie Hordern
President Trump signaled major changes in Venezuela weeks before Nicolás Maduro’s ouster, highlighting oil’s central role in U.S. strategy and energy policy.
This report dives into U.S. policy, its appetite for new power to promote data centers and AI growth, and the downstream impacts that has on the automotive industry and their powertrain choices.
The quest for inventory, size, scale, and value marches ahead
CNBC’s “Power Lunch” team discuss oil markets as crude oil prices reach their 2021 low with Dan Pickering, founder and chief investment officer of Pickering Energy Partners.
This report dives into U.S. policy, its appetite for new power to promote data centers and AI growth, and the downstream impacts that has on the automotive industry and their powertrain choices.
U.S. firm Carlyle weighs buying Lukoil’s international oil assets ahead of new sanctions, as reported by Reuters. Deal faces licensing and geopolitical challenges.
The Trump administration plans to allow new oil and gas drilling off the California coast for the first time in roughly four decades and setting up a confrontation with Gov. Gavin Newsom, a Democrat who has fought offshore drilling.