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West Texas Intermediate (WTI) crude oil price surged 5.72% to $88.65, and Brent crudeOil price increased 4.70%.
Chevron has agreed to increase its Petroindependencia stake to 49% via an asset swap with PDVSA.
KEY POINTS
- Chevron will gain rights to develop the Ayacucho 8 area in Venezuela's Orinoco Oil Belt.
- Chevron's Q2 2026 EPS estimate is $1.40, significantly down from $2.18 YoY.
- Analysts remain bullish on Chevron, with recent price targets raised up to $222.
COMPANIES
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