These 2 Oil Behemoths Are Flying High in 2026. Should You Invest $1,000?

Oil Price Dynamics - The price of West Texas Intermediate (WTI) crude has significantly decreased from $120 per barrel in June 2022 to approximately $60 per barrel today, reflecting a broader trend in Brent crude prices [1][2] Oil Supply and Market Conditions - A global oil glut is evident, with 1.4 billion barrels of oil on the water in late December, which is 24% higher than the average for the same period from 2016 to 2024 [2] Company Performance - Despite the decline in oil prices, ExxonMobil's share price has increased nearly 13% in early 2026, while Chevron's share price has risen almost 10% [3] - In comparison, the S&P 500 index has only increased about 1% for the year, indicating significant outperformance by these oil majors [3] Impact of Venezuelan Oil Reserves - The capture of Venezuelan President Nicholas Maduro has led to a surge in oil stocks, as investors anticipate that companies like Chevron and ExxonMobil may gain access to Venezuela's vast oil reserves, estimated at 19.4 billion barrels [4][5] - Venezuela holds about one-fifth of the world's proven oil reserves, making it a critical area for potential investment [4] Challenges in Venezuelan Oil Industry - The Venezuelan oil industry is in a dire state due to years of mismanagement, requiring substantial investment and time to restore operations, with estimates suggesting annual investments of $10 billion may be necessary [7][8]