Oil companies are wary of spending tens of billions of dollars into the country over the next decade and are looking for guarantees of physical and financial security amid stability concerns.

The goods and services trade gap shrank 39% from the prior month to $29.4 billion, Commerce Department data showed Jan. 8. Imports decreased 3.2%.

U.S. government officials are in discussions with Chevron over potentially extending the crude producer’s special license to operate in Venezuela, reports say.

Ford said Jan. 7 it will launch Level 3 autonomy in 2028 on its Blue Cruise feature. The new version that allows drivers to look away will debut on Ford’s all-electric small pickup truck platform.

Freight costs have dropped sharply and the cheaper shipping environment is encouraging U.S. crude to move offshore, supporting physical crude prices.

Trump's administration intends to control the distribution of Venezuela’s oil products globally following its ouster of President Nicolás Maduro in a surprise nighttime raid.

Transportation Secretary Sean Duffy is withholding nearly $160 million from California for failing to revoke more than 17,000 illegally issued non-domiciled CDLs by the Jan. 5 deadline.