President Trump is targeting oil prices of $50 per barrel, a tough pill to swallow for the US energy industry.

Oil major Chevron Corp , global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter.

As Washington moves to reshape Venezuela’s oil sector, campaign finance data shows Republicans received the vast majority of oil and gas industry election spending in 2023 and 2024.

Shares of major U.S. companies in the energy sector are sharply higher after President Donald Trump announced plans to take control of Venezuela’s oil industry and said American companies would revita

Following are key facts about the oil and mining sectors of Venezuela, whose President Nicolas Maduro was captured by U.S. forces on Saturday.

Venezuela's state-run oil company PDVSA ‌said ​on Wednesday it is ‌progressing in negotiations with the United States for oil sales, ​as a board member for the company told Reuters the U.S. will need to ‍buy cargoes at international prices.

Uncertainty over Venezuela’s oil exports could tighten supply of seaborne crude in the near term, TD Securities said.

Millions of barrels of Venezuelan oil that couldn't previously be sold because of US sanctions will begin arriving 'very soon,' the White House said.