Why Chevron’s Venezuela Exposure Puts CVX Stock in Play for 2026

Chevron-branded fuel pump fills a vehicle at a gas station, highlighting energy demand and oil company revenue trends. Key Points Chevron is the only U.S. oil major with an active footprint in Venezuela, positioning it as a first mover as the country’s oil sector restructures. The company’s Gulf Coast refining system is uniquely suited to process heavy Venezuelan crude, giving Chevron a downstream margin advantage. While the Venezuela opportunity is significant, production recovery is expected to take ...