Oil steadied on the first trading day of 2026 as expectations for a supply surplus offset geopolitical risks to production in several OPEC+ nations. Middle Eastern markets, including derivatives like the regional Dubai benchmark, faltered amid heavy selling pressure on a key trading window in Asian hours, traders familiar with the matter said. Faced with a seasonal lull in consumption, the Organization of the Petroleum Exporting Countries is leaning toward caution.

Tim Moore is a Senior Research Analyst at Clear Street who leads the firm's coverage of the clean energy transition, as well as the oil and gas industry. He discusses the oil market outlook as well as some of the clean energy players that stand to make gains in the year ahead. Tim speaks with Carol Massar, Tim Stenovec and Bloomberg News Big Oil reporter Kevin Crowley on Bloomberg Businessweek Daily.

Oil&nbsp;steadied on the first trading day of 2026 as expectations for a supply surplus offset geopolitical risks to production in several OPEC+ nations.&nbsp;Middle Eastern markets, including derivatives like the regional Dubai benchmark, faltered amid heavy selling pressure on a key trading window in Asian hours, traders familiar with the matter said. Faced with a seasonal lull in consumption, the Organization of the Petroleum Exporting Countries is leaning toward caution.
Tim Moore is a Senior Research Analyst at Clear Street who leads the firm's coverage of the clean energy transition, as well as the oil and gas industry. He discusses the oil market outlook as well as some of the clean energy players that stand to make gains in the year ahead. Tim speaks with Carol Massar, Tim Stenovec and Bloomberg News Big Oil reporter Kevin Crowley on Bloomberg Businessweek Daily.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.  Watch us LIVE on YouTube: http://bit.ly/3vTiACF.

Carol Massar and Tim Stenovec bring you reporting from the magazine that helps global leaders stay ahead, plus insight on the people, companies and trends shaping today's complex economy.&nbsp; Watch us LIVE on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories of global technology, politics, economics and more by harnessing the power of Bloomberg Businessweek reporters and editors.

Bloomberg Businessweek

Oil Traders Weigh Surplus, Geopolitical Risks to Start 2026

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/8447cbe6-45d8-4f23-b48e-b3c70003c754/transcript

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

A small fleet of ships booked by Chevron Corp. is sailing to Venezuela as the company emerges as the only exporter of the country’s oil following the ouster of President Nicolas Maduro by US forces.
Chevron is poised to export more Venezuelan oil this month than last, with at least 11 ships scheduled to arrive in the Venezuelan government-controlled ports of Jose and Bajo Grande, according to preliminary data compiled by Bloomberg.

All eyes are on the Houston-based company to see if it will begin shipping out more Venezuelan crude after US President Donald Trump said he wanted “total access” to the country’s vast reserves. Chevron is the only Western firm allowed to produce and export crude oil in Venezuela amid American sanctions and it operates under a license granted by the Treasury Department. It is responsible for nearly 25% of the nation’s production and oversees the crude through delivery to fuel-makers in the US Gulf and East Coast markets.

Today's show features:
Peter Tchir, Head of Macro Strategy at Academy Securities, on the market impact of the US military action in Venezuela and removal of Nicolas Maduro
Bloomberg News Cross-Asset Reporter Denitsa Tsekova and Bloomberg News Financial Regulation Reporter Lydia Beyoud on the Bloomberg Big Take on the prediction market boom
David Royal, Chief Financial & Investment Officer at Thrivent, on the 2026 investing outlook, the oil market, and the situation in Venezuela
Christina Lee, Co-portfolio Manager for US Private Debt strategy at Oaktree Capital Management, on the M&A outlook and key credit market trends to watch

Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>. A small fleet of ships booked by Chevron Corp. is sailing to Venezuela as the company emerges as the only exporter of the country&rsquo;s oil following the ouster of President Nicolas Maduro by US forces. Chevron is poised to export more Venezuelan oil this month than last, with at least 11 ships scheduled to arrive in the Venezuelan government-controlled ports of Jose and Bajo Grande, according to preliminary data compiled by Bloomberg. All eyes are on the Houston-based company to see if it will begin shipping out more Venezuelan crude after US President Donald Trump said he wanted &ldquo;total access&rdquo; to the country&rsquo;s vast reserves. Chevron is the only Western firm allowed to produce and export crude oil in Venezuela amid American sanctions and it operates under a license granted by the Treasury Department. It is responsible for nearly 25% of the nation&rsquo;s production and oversees the crude through delivery to fuel-makers in the US Gulf and East Coast markets. Today's show features:
<ul>
<li>Peter Tchir, Head of Macro Strategy at Academy Securities, on the market impact of the US military action in Venezuela and removal of Nicolas Maduro</li>
<li>Bloomberg News Cross-Asset Reporter Denitsa Tsekova and Bloomberg News Financial Regulation Reporter Lydia Beyoud on the Bloomberg Big Take on the prediction market boom</li>
<li>David Royal, Chief Financial &amp; Investment Officer at Thrivent, on the 2026 investing outlook, the oil market, and the situation in Venezuela</li>
<li>Christina Lee, Co-portfolio Manager for US Private Debt strategy at Oaktree Capital Management, on the M&amp;A outlook and key credit market trends to watch</li>
</ul>

Chevron Lines Up 11 Ships as Venezuela’s Dark Fleet Vanishes

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/af9c0d37-b4d1-403d-a609-b3ca01738989/transcript

Realizing President Donald Trump’s plan for a US-led revival of Venezuela’s beleaguered oil industry could be a years-long and challenging process costing upwards of $100 billion.

Years of corruption, underinvestment, fires and thefts have left the nation’s crude infrastructure in tatters. Rebuilding it enough to lift Venezuela’s output back to its peak levels of the 1970s would require companies to invest about $10 billion per year over the next decade, according to Francisco Monaldi, director of Latin American energy policy at Rice University’s Baker Institute for Public Policy. That’s equivalent to more than a third of what Exxon Mobil Corp. — the largest US oil company — has budgeted this year for capital expenditures around the entire globe. Francisco discusses the many challenges ahead for both Venezuela and the US in the post-Maduro era with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Realizing President Donald Trump&rsquo;s plan for a US-led revival of Venezuela&rsquo;s beleaguered oil industry could be a years-long and challenging process costing upwards of $100 billion.
Years of corruption, underinvestment, fires and thefts have left the nation&rsquo;s crude infrastructure in tatters. Rebuilding it enough to lift Venezuela&rsquo;s output back to its peak levels of the 1970s would require companies to invest about $10 billion per year over the next decade, according to Francisco Monaldi, director of Latin American energy policy at Rice University&rsquo;s Baker Institute for Public Policy. That&rsquo;s equivalent to more than a third of what Exxon Mobil Corp. &mdash; the largest US oil company &mdash; has budgeted this year for capital expenditures around the entire globe. Francisco discusses the many challenges ahead for both Venezuela and the US in the post-Maduro era with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily.

Trump’s Venezuela Oil Revival Plan Is a $100 Billion Gamble

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/f47ae592-fb85-42ba-a692-b3c90177f5bc/transcript

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.

Venezuela Regroups With New President, Old Repression Tactics

Venezuela’s government is reasserting itself after the capture of Nicolás Maduro, swearing in Delcy Rodríguez as acting president and flashing warning signs that a new wave of repression has begun.

As the government continued to churn inside the presidential palace Miraflores, Venezuela’s military counterintelligence officials have been patrolling the streets of Caracas, according to at least two witnesses. At least seven journalists and members of the press were detained on Monday morning and early afternoon, most of them at the National Assembly and its surroundings, according to the national press workers syndicate.

Heavily armed security forces and pro-government motorcycle gangs known as colectivos were seen roaming the capital, at times stopping drivers and checking their phones. While they aren’t as influential as they were at the height of Maduro’s power, the State Department has said they have been responsible for killings during protests.

Venezuela’s information ministry didn’t immediately respond to a request for comment.

Today's show features:
Rockford Weitz, Professor of Practice & Director of the Maritime Studies Program at Tufts University's Fletcher School of Law and Diplomacy, on US military action in Venezuela
Mike Collins, Managing Director and Executive Portfolio Advisor for Fixed Income at PGIM, on key developments in the bond market
Bloomberg Economics Geo-Economic Analyst for Latin America Jimena Zuniga on the global economic implications of the US ousting Nicolas Maduro from power
Sam Stovall, Chief Investment Strategist for CFRA Research, on the investing outlook to begin 2026

Watch Carol and Tim LIVE every day on YouTube: http://bit.ly/3vTiACF.
Venezuela Regroups With New President, Old Repression Tactics
Venezuela&rsquo;s government is reasserting itself after the capture of Nicol&aacute;s Maduro, swearing in Delcy Rodr&iacute;guez as acting president and flashing warning signs that a new wave of repression has begun.
As the government continued to churn inside the presidential palace Miraflores, Venezuela&rsquo;s military counterintelligence officials have been patrolling the streets of Caracas, according to at least two witnesses. At least seven journalists and members of the press were detained on Monday morning and early afternoon, most of them at the National Assembly and its surroundings, according to the national press workers syndicate.
Heavily armed security forces and pro-government motorcycle gangs known as colectivos were seen roaming the capital, at times stopping drivers and checking their phones. While they aren&rsquo;t as influential as they were at the height of Maduro&rsquo;s power, the State Department has said they have been responsible for killings during protests.
Venezuela&rsquo;s information ministry didn&rsquo;t immediately respond to a request for comment.
Today's show features:
<ul>
<li>Rockford Weitz, Professor of Practice &amp; Director of the Maritime Studies Program at Tufts University's Fletcher School of Law and Diplomacy, on US military action in Venezuela</li>
<li>Mike Collins, Managing Director and Executive Portfolio Advisor for Fixed Income at PGIM, on key developments in the bond market</li>
<li>Bloomberg Economics Geo-Economic Analyst for Latin America Jimena Zuniga on the global economic implications of the US ousting Nicolas Maduro from power</li>
<li>Sam Stovall, Chief Investment Strategist for CFRA Research, on the investing outlook to begin 2026</li>
</ul>

Venezuela Regroups With New President, Old Repression Tactics

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/40183b32-0d1d-49e9-b97d-b3c9017451f3/transcript

Oil Traders Weigh Surplus, Geopolitical Risks to Start 2026

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