Chevron's Trading Volume Drops 62.53% to $1.33 Billion, Ranks 46th in Market Activity

On March 24, 2025, Chevron's trading volume reached $1.33 billion, a 62.53% decrease from the previous day, ranking 46th in the day's stock market activity. Chevron's stock price increased by 0.16%.

On Monday, the U.S. Treasury Department announced that it would extend the license granted to Chevron to operate in Venezuela until May 27. This extension allows Chevron to continue its operations with state-owned Petroleos de Venezuela SA, providing a crucial lifeline for the South American country's oil industry.

President Donald Trump stated that countries purchasing oil from Venezuela would face a 25% tariff on all their trade to the U.S., starting April 2. This move is part of a broader strategy to pressure Venezuela and its trading partners, including China, Spain, India, Russia, Singapore, and Vietnam, which are significant importers of Venezuelan oil.

Despite the sanctions, the U.S. itself imports oil from Venezuela. In January, the U.S. imported 8.6 million barrels of oil from Venezuela, out of roughly 202 million barrels imported that month. The extension of Chevron's license is seen as a temporary reprieve, allowing the company to continue its operations in Venezuela until May 27.