Along with Exxon Mobil, other major oil companies such as Chevron, SLB, Halliburton, Valero Energy, and ConocoPhillips were trading with gains of up to 9% before the opening bell. Dow Jones Industrial Average futures were up 14 points, S&P 500 futures rose 0.3%, and Nasdaq-100 futures advanced 0.7%. Venezuela, a founding member of OPEC, produced as much as 3.5 million barrels per day in the 1970s, which at the time represented over 7% of global oil output. In reaction to the US attacks on Venezuela, both Brent and WTI crude futures initially fell over 1% but recovered from intraday losses to trade higher by 0.40% and 0.30%, respectively. Although Venezuela holds the world’s largest proven crude oil reserves, the impact on global oil prices was limited, as the country’s production has fallen below 1 million barrels per day—less than 1% of global supply.

Source: Mint January 05, 2026 20:45 UTC