Chevron has raised Venezuelan output to about 280,000 bpd under a US license as BP, Eni, Shell and Repsol follow and Trump credits his administration.

Chevron's Venezuelan output has climbed back to 280,000 barrels a day under a US Treasury licensing framework, drawing praise from Donald Trump and clearing the way for BP, Eni,…

Chevron has raised Venezuelan output to about 280,000 bpd under a US license as BP, Eni, Shell and Repsol follow and Trump credits his administration.

Venezuela oil exports to the US averaged about 786,000 bpd in July 2026, the highest since 2019, as officials projected recovery.