The Trump administration on Tuesday ordered Chevron, already hurting from plummeting oil prices related to the coronavirus, to stop producing oil in Venezuela and halt all remaining operations there by December.
The world's largest oil companies this week posted some of their best earnings in more than three years as they control costs and ride rising oil prices that are now closing in on $70 a barrel
Oil companies are on track to produce a record 10 million barrels of American crude a day, a milestone that could be reached as soon as February largely due to another record that is expected to fall in coming months.
