Chevron Shares Jump 2% Amid Plans for Massive Venezuela Investment

Chevron shares surged more than 2% in premarket trading on Monday as investors reacted to plans for a massive investment in Venezuela's oil resources.

The agreement, announced by President Donald Trump, allows U.S. companies to participate in developing Venezuela's oil assets and could see over $100 billion invested in the country.

Venezuelan official Delcy Rodríguez said the 25-year deal aims to increase crude production to 1.5 million barrels per day, with Chevron expected to benefit significantly from its participation.