President Trump and his advisers are planning an initiative to dominate the Venezuelan oil industry, with the President believing his efforts could lower oil prices to $50 a barrel, Brian Schwartz, Benoit Morenne, and Josh Dawsey of The Wall Street Journal reports, citing people familiar with the matter. The current plan being made has the U.S. exerting some control over Venezuela’s state run Petroleos de Venezuela, including purchasing and marketing the company’s oil production, the sources added. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Shell (SHEL) and TotalEnergies (TTE).
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