How a Reopened Venezuela Could Reshape the Outlook for ExxonMobil's Long-Term Oil Cash Flows

It's been a few weeks since U.S. forces captured former Venezuelan president Nicolás Maduro, with that geopolitical event stirring optimism in the commodities complex that the country with the world's largest petroleum reserves will finally be open to Western oil majors. That enthusiasm is proving palpable. Just look at the State Street Energy Select Sector SPDR ETF (NYSEMKT: XLE). One of the bellwether exchange-traded funds (ETFs) dedicated to energy stocks, that fund is up 10% year to date. ExxonMobil (NY ...