Chevron Doubles Down on Venezuelan Oil

Chevron has announced that it will increase oil production in Venezuela as part of a new deal.

The company expects to double its current oil production, reaching around 600,000 barrels per day.

Chevron CEO Mike Wirth said the improved conditions and additional acreage would provide long-term value for the company.

This move comes after Chevron Vice Chairman Mark Nelson met with the White House earlier this year to discuss the expansion of oil production in Venezuela.