Chevron Lines Up 11 Ships as Venezuela’s Dark Fleet Vanishes

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A small fleet of ships booked by Chevron Corp. is sailing to Venezuela as the company emerges as the only exporter of the country’s oil following the ouster of President Nicolas Maduro by US forces.
Chevron is poised to export more Venezuelan oil this month than last, with at least 11 ships scheduled to arrive in the Venezuelan government-controlled ports of Jose and Bajo Grande, according to preliminary data compiled by Bloomberg.

All eyes are on the Houston-based company to see if it will begin shipping out more Venezuelan crude after US President Donald Trump said he wanted “total access” to the country’s vast reserves. Chevron is the only Western firm allowed to produce and export crude oil in Venezuela amid American sanctions and it operates under a license granted by the Treasury Department. It is responsible for nearly 25% of the nation’s production and oversees the crude through delivery to fuel-makers in the US Gulf and East Coast markets.

Today's show features:

• Peter Tchir, Head of Macro Strategy at Academy Securities, on the market impact of the US military action in Venezuela and removal of Nicolas Maduro
• Bloomberg News Cross-Asset Reporter Denitsa Tsekova and Bloomberg News Financial Regulation Reporter Lydia Beyoud on the Bloomberg Big Take on the prediction market boom
• David Royal, Chief Financial & Investment Officer at Thrivent, on the 2026 investing outlook, the oil market, and the situation in Venezuela
• Christina Lee, Co-portfolio Manager for US Private Debt strategy at Oaktree Capital Management, on the M&A outlook and key credit market trends to watch

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