President Trump hinted at major changes in Venezuela to a couple of oil executives a month before Nicolas Maduro’s capture, The Wall Street Journal’s Collin Eaton and Alex Leary report. Chevron’s (CVX) shares rose 5% and Exxon’s (XOM) 2% after the Venezuela news, but Chevron is wary of new investments without stability, according to the report. Venezuela has an estimated 300 billion barrels of oil reserves, but current output is only 900,000 barrels a day. Chevron (CVX) is the only international oil company with operations in Venezuela.
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