The global oil market is witnessing a significant turning point as petroleum exports from Venezuela to the United States surge to approximately 7.8 million barrels. This move stems from a $2 billion energy supply contract, contributing to positive pressure on the stock prices of leading American oil companies such as Exxon Mobil and Chevron. To enhance exploration activities within Venezuelan territory, the U.S. government has authorized Chevron to expand its production scope, although the state-owned company PDVSA continues to reduce its current extraction levels. Besides the risks associated
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