Pivotal Point Tracking Chevron (CVX): Exclusive Production Rights in Venezuela Drive Stock After Power Change!

Chevron is the only US oil major that has managed to maintain an operational base in Venezuela despite years of sanctions. On January 5, the stock responded with a Pivotal Point to reports of a political upheaval in Caracas and the arrest of Nicolás Maduro. Since Chevron already holds production licenses for approximately 150,000 to 240,000 barrels per day, the company is seen as the main beneficiary of a market opening. With a chartered tanker fleet and existing infrastructure on the ground, Chevron can ramp up exports much faster than competitors...