Venezuela signs oil deals with SLB and Hunt to boost production
New oil agreements signal a potential increase in crude production and future supply from Venezuela.
Source →The trace
How it reaches your house.
Starting from Chevron Corporation, we walked the supply graph hop by hop to the goods you buy and the companies you own. Each step is the engine’s reasoning, scored for confidence and cited where a source backs it.
First impact
Chevron Corporation →supply upVenezuelan crude export operations
Chevron is the only company currently authorized to export Venezuelan crude, so a Venezuelan production boost should raise the crude available to its export operations.
“Chevron is the only company currently authorized by Washington to export Venezuelan crude”
66% confidenceCited →ExxonMobil →supply upVenezuela’s new production deals are explicitly meant to boost crude output, which should modestly ease ExxonMobil’s crude feedstock availability on this input edge.
61% confidenceChevron Corporation →Prices easeHop 2
Talos Energy, Inc. →Prices easeShell Trading (US) CompanySHEL
Talos discloses Shell as a major customer (35% of oil revenues), so Venezuela-driven crude oversupply can ease the price Shell pays for Talos-linked barrels.
43% confidenceTalos Energy, Inc. →Prices easeTalos names Exxon as a major customer (23% of oil revenues), so lower crude prices from the supply increase should modestly reduce Exxon’s input costs on Talos purchases.
39% confidenceTalos Energy, Inc. →Prices ease