US Issues Venezuela Production License; Chevron Could Boost Output 50%, Brent at $55–$65
The U.S. will issue a general license for Chevron and peers to produce oil in Venezuela, potentially raising Chevron’s output from 250,000 bpd by 50% within two years. Mind Money’s Igor Isaev forecasts Brent will trade at $55–$65 through Q1 2026 on a 2.3 million bpd global surplus.
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