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28.08.26 - 13:48
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Chevron Could Be Big Winner If Venezuela Pulls Out of OPEC (24/7 Wall St.)
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Oil markets are being reshaped by geopolitics as much as geology. Venezuela, home to the world's largest proven crude reserves, is now moving closer to the U.S. after years of isolation, while OPEC's influence over global supply appears to be weakening. Venezuela produced only about 1.16 million barrels of oil a day in July, according […]...
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28.08.26 - 01:42
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Trump Complained About Big Oil Profits, But Dumped Exxon Stock On Ceasefire Day (ZeroHedge)
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Trump Complained About Big Oil Profits, But Dumped Exxon Stock On Ceasefire Day
By Charles Kennedy of OilPrice.com,
President Donald Trump's investment accounts sold between $500,000 and $1 million of ExxonMobil stock on April 7, the same day Trump announced a ceasefire in the Iran war and hours before Exxon shares opened 6.5% lower, according to financial disclosures reviewed by CBS News.
Exxon closed at $163.91 on April 7 before Trump announced the ceasefire that evening and opened at $153.52 the following morning. The transaction was one of hundreds of thousands of dollars in purchases and sales involving Exxon, Chevron, ConocoPhillips and other oil and gas companies during the first half of 2026, according to filings with the Office of Government Ethics as reported by CBS News.
Those trades continued through a war that sent oil prices sharply higher and delivered some of the strongest earnings for U.S. oil majors since 2022. ExxonMobil and Chevron ultimately earned a combined $26.5 bill...
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