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Share Prices of U.S. Oil Companies Poised to Surge
Share Prices of U.S. Oil Companies Poised to Surge
Although oil prices have not shown a significant reaction to the U.S. actions in Venezuela over the weekend, share prices of U.S. oil companies are expected to jump once official trading begins.
This surge follows expectations that U.S. firms will gain greater access to Venezuela’s oil reserves in the future, stemming from President Trump’s recent comments.
Share Prices of U.S. Oil
In pre-market trading, shares of Chevron — the only major U.S. oil company still operating in the country — have risen more than 7%, while oilfield services firms like Halliburton have seen a similar increase. The U.S. market opens at 09:30 EST (14:30 GMT).
However, analysts have cautioned that reviving Venezuela’s oil industry will be a lengthy process requiring billions of dollars in investment.
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Share Prices of U.S. Oil Companies Poised to Surge
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