Key Highlights
- However, the Chevron stock finished over 5% higher than its previous close of $155.90 per share.
- According to stock market experts, Chevron's stock price rose due to market buzz about the benefits trickling down to the company after Donald Trump's announcement to invest in Venezuela's oil exploration, as Chevron Corporation is the only US company currently involved in oil exploration in Venezuela.
- The market is expected to benefit early from the US-Venezuela company, which is likely to be the biggest gainer among the US oil majors.
- Pointing towards the US-Venezuela crisis, Sandeep Pandey, Co-founder of Basav Capital, said, "The US attacks on Venezuela would benefit Chevron Corporation the most as it is the only US oil company which is currently doing business in Venezuela.
- In fact, it accounts for approximately 25% of Venezuela's net oil exploration business.
