Chevron and Exxon are at the center of concerns after the US intervention in Venezuela


The Chevron logo is seen at a gas station on July 18, 2025 in Austin, Texas.

Brandon Bell | Getty Images

Shares of U.S. oil companies soared Monday as investors scrutinized the implications of the Trump administration’s decision. surprise military operation in Venezuela.

Chevron shares were up 8.4% as of 10 a.m. London time (5 a.m. ET), with Exxon Mobile up 4.1% and the oil services giant SLB climbing 9%.

The measures come after the United States carried out a major military operation in Venezuela over the weekend, capturing Venezuelan President Nicolas Maduro and his wife, Cilia Flores, in a bold intervention that sent shockwaves across the world.

American President Donald Trump has since stated that the White House will “lead” the South American country until a “safe, appropriate and sensible transition” can take place.

Venezuela is a founding member of OPEC, an influential energy alliance, and has the world’s largest proven crude oil reserves at 303 billion barrels, according to the U.S. Energy Information Administration. This represents approximately 17% of the world’s oil reserves.

Trump said U.S. investment in Venezuela’s energy sector was now a central goal of his administration.

“We’re going to ask our very large American oil companies – the largest in the world – to step in, spend billions of dollars, repair the badly damaged infrastructure, the oil infrastructure,” Trump said at a news conference from his Mar-a-Lago residence in Palm Beach, Florida.

“Let’s start making money for the country,” Trump said Saturday.

Oil prices were last seen falling slightly on Monday morning.

International reference Brent Crude oil futures for delivery in March fell 0.6% to $60.40 a barrel, while crude oil futures with March delivery fell 0.6% to $60.40 a barrel, while West Texas Intermediate Futures with February delivery were down 0.4% at $57.11.

—Spencer Kimball of CNBC contributed to this report.



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