A potential deal to sell the trapped crude to the U.S. could initially require reallocating cargoes originally bound for China.

Energy industry stocks and oil prices are rising after the U.S. seized Venezuelan President Nicolás Maduro and his wife in a military operation on Saturday. In Wall Street trading on Monday, shares in Chevron — the only U.

President Donald Trump may have made a major miscalculation about Venezuela’s oil. Trump has expressed excitement over the prospect of US oil companies getting their hands on Venezuela’s vast oil resources.

A full-scale resumption of Venezuelan oil exports would benefit refiners in the United States and lower their fuel production costs, with the refineries capable of absorbing most of the roughly 1 million barrels per day of crude if U.

U.S. firms involved in the effort would face risks, León and Cinquegrana said. Chevron is currently the only U.S. oil firm operating in Venezuela, as part of a joint venture with the country's state-owned oil outfit.

Petroleum giants Chevron, ConocoPhillips and ExxonMobil are planning to meet with the Trump administration later this week, sources told CBS News, as President Trump pushes oil companies to invest in Venezuela.

New Jersey motorists are seeing the lowest gas prices in years, even against the backdrop of turbulence in Venezuela.

Analysts are braced for a $17.3 trillion oil price upheaval that could send shockwaves through the bitcoin price and crypto

The Trump administration is counting on U.S. oil companies to revive Venezuela's creaky energy production and tap its massive reserves.

Big oil firms will either "get reimbursed by us or through revenue," Trump told NBC News in an exclusive interview.

Venezuela’s oil rivals the Magnificent Seven at conservative prices, with untapped gold adding a mega-cap-sized bonus to the world’s largest proven resource base today