Chevron is expected to obtain an expanded US Venezuela oil drilling license this week, which could increase its production and crude oil exports. As the last major US oil company operating in Venezuela, Chevron is negotiating to increase crude oil shipments to its refineries and other buyers. The company's stock price rose more than 2% on Wednesday, with a cumulative increase of over 10% in the past five days.
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Chevron is expected to obtain an expanded US Venezuela oil drilling license this week, which could increase its production and crude oil exports. As the last major US oil company operating in Venezuela, Chevron is negotiating to increase crude oil shipments to its refineries and other buyers. The company's stock price rose more than 2% on Wednesday, with a cumulative increase of over 10% in the past five days.