Jan. 9 at 9:57 PM
PickAlpha Mid-Day:
Trump met ~20 US oil executives at the White House and pushed them to commit
$100B+ to restart/invest in Venezuelaâs oil sector post-Maduro (reported). Executives signaled reluctance: Exxonâs Darren Woods called Venezuela âuninvestibleâ without durable legal/commercial protections, and Conocoâs Ryan Lance cited roughly
$12B in prior losses (reported). Trump floated US âsecurity guaranteesâ and said firms would deal with the US directly, while also saying prior losses wonât be covered (reported).
Tickers:
$XOM $CVX $COP
Our view is the market is trading contract enforceability + capital protection, not barrels â without a credible legal/fiscal framework, â
$100Bâ is a soundbite. If Washington delivers real, durable protections, CVX/COP have the cleanest near-term optionality; if not, this stays headline vol and Venezuela supply remains a slow, conditional drip.
