Oil Eyes Supply Disruptions as Venezuela Rebuild Talk Falls Flat

Core Insights - The recent political changes in Venezuela, particularly the ousting of President Nicolas Maduro by US President Trump, have revitalized interest in oil markets, especially for US equities that may benefit from access to Venezuelan crude [3][4] - Despite the political upheaval, oil prices have not seen significant upward movement, with ICE Brent trading above $62 per barrel, indicating a slow recovery from previous losses [8] - OPEC+ has decided to maintain current production quotas in Q1 2026, reflecting concerns over market stability and a weaker demand outlook [9] Company Developments - US oil major Chevron's shares have increased by 8% since the start of 2026, while refiner Valero Energy has seen an 11% rise in the same period [4] - US utility firm Vistra has agreed to acquire Cogentrix Energy for approximately $4.7 billion, which will enhance its portfolio with 10 natural gas-fired power plants [7] - Colombia's state energy firm Ecopetrol has taken full control of offshore blocks in its maritime zone after Shell relinquished three offshore gas projects [6] Market Trends - The S&P 500 Energy index has risen by 5% in 2025, outperforming the broader S&P 500, which only increased by 0.4% [5] - TotalEnergies has established a new joint venture in Nigeria with Chevron, acquiring a 40% stake in exploration licenses PPL 2000 and PPL 2001 [7]