Chevron Nears Deal for Giant Venezuelan Oil Fields

Chevron's stock has continued to rise overnight after reports emerged that the company is nearing a deal to access two giant oil fields in Venezuela.

The Carabobo region, where the fields are located, reportedly contains billions of barrels of heavy oil reserves.

This move comes shortly after U.S. President Donald Trump announced a new agreement with Venezuela to access billions of barrels of oil.

Chevron's agreement is expected to be the biggest among several deals likely to be announced in the coming days, as the Trump administration seeks to encourage greater U.S. investment in Venezuela's oil sector.