00:00It's Benzinga bringing Wall Street to Main Street.
00:02Chevron shares are trading near an all-time high as investors weigh potential expansion
00:07in Venezuela, according to Benzinga. President Trump announced a 25-year deal for U.S. companies
00:13to develop Venezuelan oil resources targeting crude production of 1.5 million barrels a day.
00:20Venezuela's interim president, Delce Rodriguez, said the 25-year deal targets an increase in
00:25Venezuelan crude output to 1.5 million barrels a day. Chevron is expected to be a major beneficiary
00:32of the Venezuela deal and could announce an expansion of its operations this week,
00:36according to the New York Times. The deal faces political opposition in Venezuela,
00:41requires billions of dollars in development spending, and carries the risk of lower oil
00:47prices before production begins. Morgan Stanley raised its price target to $218, while TD Cowan
00:53and Bernstein also increased their targets. For all things money, visit Benzinga.com.
