Group 1: U.S. Military Operation and Oil Supply - The U.S. is reportedly receiving significant volumes of crude oil from Venezuela following a military operation that led to the capture of President Nicolás Maduro, with claims of "50 million barrels" being taken in on a daily basis [1][2] - Trump stated that this operation would lead to lower oil prices and expressed intentions to strengthen Venezuela through collaboration [2] Group 2: Skepticism and Feasibility - Experts have raised doubts about the feasibility of Trump's claims, noting that Venezuela's peak oil output was only 3 million barrels per day, which has since declined to approximately 950,000 barrels per day [3] - Economist Paul Krugman criticized the notion of a war for oil, suggesting that current low oil prices and high production costs make Trump's plans unrealistic [4] - Exxon Mobil's CEO described Venezuela as "uninvestable," referencing past asset confiscations by the government [4] Group 3: Market Reaction - Shares of Exxon Mobil increased by 2.02% to close at $126.54, with a slight rise in after-hours trading, despite the company's poor momentum and growth rankings [5]
Trump Says He's Going To Make Venezuela 'Strong' Again, Reveals Caracas Giving US 50 Million Barrels Of Oil Daily: 'Winning Is A Good Thing' - Exxon Mobil (NYSE:XOM)