Regime Change in Venezuela Boosts U.S. Oil Giants; Chevron and ConocoPhillips Soar 9% in Pre-Market Trading
Chevron’s stock rose sharply in premarket trading after Venezuelan President Maduro was ousted last weekend, paving the way for the energy giant to expand its operations in the oil-producing nation.Chevron is currently the only major U.S. oil company operating in Venezuela, where relations with Washington have been turbulent for years under the administrations of Maduro and his predecessor, Chávez. JPMorgan Chase Analysts noted in a report to clients that the easing of operational restrictions on Chevron under the new government could boost oil production in Venezuela.In pre-market trading on Monday, Chevron’s stock rose 9% to $169.96; shares of ConocoPhillips, another U.S. energy company that could benefit from expanded operations in Venezuela, also rose nearly 9% to $105.02.
Source:富途快讯 · Source Link
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