Chevron to Invest $7 Billion to Double Venezuelan Oil Output

Hyperdash News09/02/2026 10:18 UTCCommodities

Chevron plans to invest $7 billion to double its oil production in Venezuela. This investment aims to increase output to 400,000 barrels per day.

The move could affect global crude oil supply and prices. The increased output from Venezuela could add to the world's oil supply. In the minutes since the news,

WTI Crude has moved -0.05% on Hyperdash, and

Brent Crude has moved -0.02%.

Sources

Bloomberg

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