Exxon Mobil Nears Venezuela Return After 19-Year Absence

Key Facts

1Exxon Mobil is nearing a deal to re-enter Venezuela's oil sector after walking away nearly two decades ago.

2President Trump stated that the U.S. secured an agreement involving 65 billion barrels of reserves with Venezuela.

In a move reflecting a major shift in international energy policy, Exxon Mobil is nearing a deal to re-enter Venezuela's oil sector after walking away nearly two decades ago. According to reports, these developments follow statements by President Trump indicating that the U.S. has secured an agreement involving 65 billion barrels of reserves with Venezuela. This marks a potential return for the company to operations it had abandoned since 2007.

This news comes as major energy stocks show relative stability, with Exxon Mobil (XOM) closing at $163.32 on September 16, 2026. Per market data, peer company Chevron (CVX) closed at $211.54, while BP stood at $45.38 and Shell (SHEL) at $95.70 on the same date. This potential deal strengthens Exxon's portfolio amidst global supply fluctuations.

Traders are currently watching XOM price levels, which saw a day high of $167.5 and a low of $162.56 at close on September 16, 2026. With no immediate energy-sector catalysts in the upcoming economic calendar, focus remains on the final details of the Venezuelan reserve agreement and its impact on the company's long-term production plans.