U.S. to ease Venezuela sanctions, allowing Chevron to pump oil – WSJ (NYSE:CVX)

The Biden administration is making ready to scale down sanctions on Venezuela to permit Chevron (NYSE:CVX) to renew pumping oil within the nation, paving the way in which for a possible reopening of U.S. and European markets to grease exports from Venezuela, The Wall Avenue Journal reported Wednesday.

In alternate for the numerous sanctions aid, Venezuela’s authorities would resume long-suspended talks with its home political opposition to debate the situations wanted to carry free and truthful elections in 2024, in line with the report.

The U.S. and Venezuelan governments, plus some opposition teams additionally reportedly have labored out a deal to launch tons of of hundreds of thousands of {dollars} in Venezuelan state funds frozen in U.S. banks to pay for imports of meals, medication and tools.

Chevron (CVX) is properly positioned operationally and financially to succeed and profit from elevated commodity costs over the long run, Macro Realist writes in an evaluation newly printed on Looking for Alpha.