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Exclusive: Traders Vitol and Trafigura to join White House Venezuela oil talks

Reuters · 2026-01-08

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body-module__full_width__kCIGb body-module__ultra_small_body__WelUC primary-image-module__caption__BFvVU"><span>Trafigura logo is seen in this illustration taken, April 23, 2024. REUTERS/Dado Ruvic/Illustration <a data-testid="Link" target="_blank" referrerPolicy="no-referrer-when-downgrade" href="https://www.reutersconnect.com/item/illustration-shows-trafigura-logo/dGFnOnJldXRlcnMuY29tLDIwMjQ6bmV3c21sX1JDMktDN0FORUlEMQ%3D%3D/?utm_medium=rcom-article-media&amp;utm_campaign=rcom-rcp-lead" rel="noopener" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76 collapsible-caption-module__license__CPQvV">Purchase Licensing<span><span class="link-module__suffix__ObiNY"> Rights</span><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" aria-hidden="true" focusable="false" role="presentation" data-testid="NewTabSymbol" class="link-module__new-tab-symbol__d53s7 link-module__move-left__CCZH6 collapsible-caption-module__symbol__943UJ" fill="#666" width="0" height="0"><path fill="#666" d="M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z"></path></svg><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">, opens new tab</span></span></a></span></div></figure></div><div class="article-body-module__content__bnXL1"><div data-testid="ContextWidget" class="context-widget-module__container__b9mKr context-widget-module__with-scroll__CmEdD article-body-module__context_widget__sq1EI"><div data-testid="TabContainer" class="context-widget-module__tabcontainer__O1B-s context-widget-module__right-gradient__QLuno"><ul role="tablist" class="context-widget-module__tabs__AIjL0"><li data-testid="summary-tab" role="tab" aria-selected="true" tabindex="0" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf context-widget-module__tab__lRw-D context-widget-module__selected__Et295">Summary</li><li data-testid="companies-tab" role="tab" aria-selected="false" tabindex="-1" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__medium__2Rl30 text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf context-widget-module__tab__lRw-D">Companies</li></ul></div><div data-testid="ContextWidgetContent" class="context-widget-module__content__lI1uo"><ul data-testid="Summary" class="summary-module__summary__QjADA"><li data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz">European traders could facilitate Venezuelan oil sales</li><li data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz">US engages with marketers and banks, DOE says</li><li data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz">Vitol and Trafigura were both previously active in Venezuela</li><li data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf summary-module__point__UgXPz">Vitol has received a preliminary special U.S. government licence to begin negotiations</li></ul></div></div><div data-testid="paragraph-0" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">LONDON/NEW YORK, Jan 8 (Reuters) - U.S. President Donald Trump&#x27;s administration has invited the bosses of commodity trading houses Vitol and Trafigura to the White House on Friday for talks on marketing Venezuelan oil, four sources familiar with the matter told Reuters.</div><div data-testid="paragraph-1" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">European trading houses have traditionally dominated global oil trading and could help the U.S. sell oil from Venezuela even though Washington wants U.S. majors to play the biggest role.</div><p data-testid="promo-box" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__base__o--Cl body-module__small_body__gOmDf article-body-module__promo-box__hVl8h"> <!-- -->Sign up<!-- --> <!-- --> <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="undefined?location=article-paragraph&amp;redirectUrl=%2Fbusiness%2Fenergy%2Fvitol-trafigura-talks-with-us-venezuelan-oil-sales-sources-say-2026-01-08%2F" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">here.</a></p><div data-testid="element" class="article-body-module__element__5eCce"></div><div data-testid="paragraph-2" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Geneva-headquartered Vitol has already <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/vitol-gets-preliminary-us-license-begin-negotiations-venezuelan-oil-imports-2026-01-08/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">received</a> a preliminary licence from the U.S. government to begin negotiations for the import and export of oil from Venezuela for 18 months, four sources told Reuters on Thursday.</div><div data-testid="paragraph-3" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">The White House has said it would be hosting U.S. oil majors on Friday, but the invitation to trading houses has not been previously reported.</div><div data-testid="paragraph-4" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Reuters could not immediately obtain a full list of those invited to the meetings.</div><div data-testid="paragraph-5" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Vitol and Trafigura, which was also formerly based in Geneva but is now headquartered in Singapore, declined to comment. The White House did not comment on whether Vitol and Trafigura were invited.</div><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS article-body-module__heading__KTJKz">US INDEFINITE CONTROL OF OIL SALES</h2><div data-testid="paragraph-6" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">The Trump administration set its sights on Venezuela&#x27;s oil industry soon after U.S. forces captured President Nicolas Maduro on January 3. Washington has said it <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/us-wants-venezuelan-oil-flowing-again-with-revenues-us-accounts-wright-says-2026-01-07/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">wants to control</a> Venezuela&#x27;s oil sales and revenue indefinitely.</div><div data-testid="paragraph-7" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">The U.S. Department of Energy said on Wednesday it was engaging with commodity marketers and banks to execute and to provide financial support for Venezuelan crude oil and fuel sales to the country. It did not specify which companies.</div><div data-testid="paragraph-8" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Trump has already said U.S. companies will invest in Venezuela and rebuild its oil industry to produce more oil and bring global energy costs down.</div><div data-testid="paragraph-9" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Washington and Caracas <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/venezuela-us-talks-export-venezuelan-oil-us-sources-say-2026-01-06/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">agreed a deal</a> this week to export some 30-50 million barrels of oil worth $2 billion to the United States but U.S. oil majors have said they want &quot;<a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/us-oil-companies-say-they-need-guarantees-invest-venezuela-ft-reports-2026-01-08/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">serious guarantees</a>&quot; before they make investments.</div><div data-testid="paragraph-10" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Years of under-investment and sanctions have led Venezuela&#x27;s output to fall to around 1 million barrels per day, or just 1% of global supply, from 3.5 million bpd in the 1970s when it accounted for 7% of global oil.</div><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS article-body-module__heading__KTJKz">INVOLVEMENT IN VENEZUELA</h2><div data-testid="paragraph-11" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Vitol and Trafigura were among the most active traders of Venezuelan oil prior to U.S. sanctions in 2019.</div><div data-testid="paragraph-12" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">In the past, they have marketed Venezuelan oil received from state firm PDVSA’s European partners, which were U.S. licence holders. And their capacity to have tanker fleets in Venezuela quickly and trade barrels exceeds that of many joint venture partners.
Yet they might not have first access to Venezuela’s crude.</div><div data-testid="paragraph-13" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">&quot;U.S. majors are central to production, but large international trading houses bring global reach and optionality the majors lack. It therefore makes clear sense for these traders to engage proactively with the U.S. government to discuss next steps,&quot; Jean-Francois Lambert of consultancy Lambert Commodities said.</div><div data-testid="paragraph-14" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">U.S. oil major Chevron <a data-testid="Link" target="_blank" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/markets/companies/CVX.N" rel="noopener" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76">(CVX.N)<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" aria-hidden="true" focusable="false" role="presentation" data-testid="NewTabSymbol" class="link-module__new-tab-symbol__d53s7"><path fill="#666" d="M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z"></path></svg><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">, opens new tab</span></a> <a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/business/energy/chevron-talks-with-us-government-expanded-venezuela-license-sources-say-2026-01-07/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC">is in talks</a> with the U.S. government to expand a licence to operate in Venezuela so it can sell to other buyers, as well as to increase exports to its own refineries, Reuters reported on Wednesday.</div><div data-testid="paragraph-15" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__small__sph8i body-module__full_width__kCIGb body-module__small_body__gOmDf article-body-module__paragraph__Ts-yF">Under U.S. licences, Chevron, India&#x27;s Reliance, Italy&#x27;s Eni <a data-testid="Link" target="_blank" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/markets/companies/ENI.MI" rel="noopener" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76">(ENI.MI)<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" aria-hidden="true" focusable="false" role="presentation" data-testid="NewTabSymbol" class="link-module__new-tab-symbol__d53s7"><path fill="#666" d="M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z"></path></svg><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">, opens new tab</span></a>, Spain&#x27;s Repsol <a data-testid="Link" target="_blank" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/markets/companies/REP.MC" rel="noopener" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_default__-okuC link-module__with-icon__qlg76">(REP.MC)<svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 32 32" aria-hidden="true" focusable="false" role="presentation" data-testid="NewTabSymbol" class="link-module__new-tab-symbol__d53s7"><path fill="#666" d="M15 6c.6 0 1 .4 1 1s-.4 1-1 1H9c-.6 0-1 .4-1 1v14a1.1 1.1 0 0 0 .2.6c.1.2.4.4.8.4h14c.6 0 1-.4 1-1v-6c0-.6.4-1 1-1s1 .4 1 1v6a3 3 0 0 1-3 3H9a3 3 0 0 1-2.2-.9A3 3 0 0 1 6 23V9a3 3 0 0 1 3-3Zm10 0 .4.1.5.5.1.4v6c0 .6-.4 1-1 1s-1-.4-1-1V9.4l-5.3 5.3a1 1 0 0 1-.7.3 1 1 0 0 1-.7-.3 1 1 0 0 1 0-1.4L22.6 8H19c-.6 0-1-.4-1-1s.4-1 1-1Z"></path></svg><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">, opens new tab</span></a>, France&#x27;s Maurel &amp; Prom and China&#x27;s CNPC have intermittently been the main traders of Venezuelan oil since sanctions were imposed in 2019.</div><div 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link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Energy<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/vitol-gets-preliminary-us-license-begin-negotiations-venezuelan-oil-imports-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">Exclusive: Vitol gets preliminary US license to begin negotiations on Venezuelan oil imports and exports, four sources say </span></a></div><div class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/vitol-gets-preliminary-us-license-begin-negotiations-venezuelan-oil-imports-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img src="https://www.reuters.com/resizer/v2/VTIIGT5AFVOWRMLODE5WGZNB4I.jpg?auth=0e2e0406e05f16ff0e79141ad0c5f59469ec91eff382686635004935592bd94f&width=1200&quality=80" alt="El Palito refinery of the Venezuelan state oil company PDVSA, in Puerto Cabello" /></noscript></div></a></div></div></li><li class="read-next-v2-module__item__F8aJ9"><div class="story-card-module__tpl-common__G5wYS story-card-module__tpl-full-media-on-top__ps3O2 story-card-module__transition-no-date-for-extra-wide-desktop__20m3z story-card-module__transition-no-date-for-desktop__b65V6 story-card-module__transition-no-date-for-tablet__2zqMx story-card-module__transition-media-on-right-for-mobile__ygju8 read-next-v2-module__story-card__Bus22" data-are-authors="true" data-has-multiple-authors="false" data-dir="ltr" data-testid="StoryCard" tabindex="-1"><time data-testid="DateLineText" dateTime="2026-01-08T16:49:30Z" class="text-module__text__0GDob text-module__medium-grey__yZtlg text-module__light__ZYtNU 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href="/business/energy/oil-prices-gain-us-inventory-draw-venezuela-focus-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">Oil prices gain 2% as market focuses on Venezuela and supply worries in Russia, Iraq and Iran</span></a></div><div class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/oil-prices-gain-us-inventory-draw-venezuela-focus-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 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text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Energy<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/shell-narrows-outlook-third-quarter-lng-output-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">Shell flags chemicals and products unit loss, raising doubts over $3.5 billion buyback</span></a></div><div class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/shell-narrows-outlook-third-quarter-lng-output-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img 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story-card-module__area-date__p9wlR"> ago</time><span data-testid="KickerLabel" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__extra_small__8Buss label-module__label__Sv2H2 label-module__kicker__jiI-y story-card-module__area-kicker__CYVuk"><a data-testid="KickerLink" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Energy<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" aria-label="India&#x27;s Reliance would consider buying Venezuelan oil if allowed, includes gallery" href="/business/energy/indias-reliance-industries-says-will-consider-buying-venezuelan-oil-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">India&#x27;s Reliance would consider buying Venezuelan oil if allowed</span></a></div><div class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/indias-reliance-industries-says-will-consider-buying-venezuelan-oil-2026-01-08/" 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href="/business/energy/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC">Energy<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><div data-testid="Title" class="title-module__title__Lr6MH story-card-module__area-headline__N6EZa"><a data-testid="TitleLink" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/us-china-can-balance-roles-venezuela-us-energy-chief-says-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span data-testid="TitleHeading" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS title-module__heading__ZrRzk">US, China can balance roles in Venezuela, US energy chief says</span></a></div><div class=" image-container no-caption story-card-module__area-media__N2Hg6" data-testid="MediaImage"><a data-testid="MediaImageLink" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade" href="/business/energy/us-china-can-balance-roles-venezuela-us-energy-chief-says-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_default__-okuC image-module__container__dqGwP story-card-module__image-link__4wq06"><div data-testid="Image" class="image story-card-module__image__NNKq2"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ 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d="M14.093.337c-.411-.45-1.028-.45-1.44 0L7.2 6.3 1.749.337c-.411-.45-1.028-.45-1.44 0a1.16 1.16 0 0 0 0 1.576l6.171 6.75c.206.225.515.337.72.337.205 0 .515-.112.72-.338l6.172-6.75a1.16 1.16 0 0 0 0-1.575h.001Z"></path></svg></span></a></h2></div><ul class="story-collection-module__one_hero_and_two_columns__8YnUb story-collection-module__list__gnUqs story-collection-module__with-hero__npPIU" data-testid="StoryCollection"><li class="story-collection-module__list-item__nvJUz story-collection-module__hero__gKDSI story-collection-module__default__k3Xt2 story-collection-module__with-spacing__OhP-U" id="M4YZ4RQNIVKMNEMDQXM2K7A3RM" data-testid="one_hero_and_two_columns"><div data-testid="MediaStoryCard" class="media-story-card-module__hero__UeoFK story-card"><div class="media-story-card-module__placement-container__1ZSB1"><a href="/world/india/gold-edges-down-firm-dollar-investors-await-key-jobs-data-2026-01-08/" aria-hidden="true" tabindex="-1" 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href="/world/india/gold-edges-down-firm-dollar-investors-await-key-jobs-data-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-module__inherit-line-height__1vd2c media-story-card-module__heading__xgKcP">Gold steady as markets eye US jobs data, index adjustments weigh</a></h3><span data-testid="Label" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__light__ZYtNU text-module__default__R2Ckt label-module__label__Sv2H2 kicker_hero media-story-card-module__section__PyVDc"><a data-testid="Link" referrerPolicy="no-referrer-when-downgrade" href="/world/" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__inherit-font__1P1hv text-module__inherit-size__EyiQW link-module__link__INqxZ link-module__underline_on_hover__YTwYC"><span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a> · <time dateTime="2026-01-08T19:02:55Z">January 8, 2026 · 7:02 PM UTC</time> ·  ago</span><p data-testid="Body" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__regular__qJJtA text-module__large__03GSP body-module__base__o--Cl body-module__large_body__NQgnj media-story-card-module__description__DzXN2">Gold held steady on Thursday as investors awaited U.S. nonfarm payrolls data for indications on the Federal Reserve&#x27;s policy trajectory, though near-term pressure from commodity index adjustments continued to cap gains.</p></div></div></li><li class="story-collection-module__list-item__nvJUz story-collection-module__story__A3dpi story-collection-module__default__k3Xt2 story-collection-module__with-spacing__OhP-U" id="ELXQC7E445KPXD26WGQAGUEDY4" data-testid="one_hero_and_two_columns"><div data-testid="MediaStoryCard" class="media-story-card-module__hub__y3KsD story-card"><div class="media-story-card-module__placement-container__1ZSB1"><a href="/sustainability/sustainable-finance-reporting/luxury-powerhouse-brink-how-saks-big-merger-bet-failed-2026-01-08/" aria-hidden="true" tabindex="-1" referrerPolicy="no-referrer-when-downgrade"><div class="media-story-card-module__image-container__fJn9a"><div data-testid="Image" class="image"><div class="styles-module__image-container__E0mCm styles-module__cover__SgyOM styles-module__center_center__bzABO styles-module__apply-ratio__u0jXJ styles-module__transition__joucY" style="--aspect-ratio:1.5"></div><noscript><img src="https://www.reuters.com/resizer/v2/DM7QIJ3FSRL2VPB6CH3QSF5IBY.jpg?auth=8cce192765a922dea1447e4e2bf1a11b454bca4bf6afecec8b1ec4f6ade4e3c4&width=960&quality=80" width="8238" height="5492" alt="The Saks Fifth Avenue flagship store in New York" /></noscript></div></div></a></div><div class="media-story-card-module__body__nZjo1"><span 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link-module__underline_on_hover__YTwYC">Retail &amp; Consumer<span style="border:0;clip:rect(0 0 0 0);clip-path:inset(50%);height:1px;margin:-1px;overflow:hidden;padding:0;position:absolute;width:1px;white-space:nowrap">category</span></a></span><a data-testid="Heading" href="/business/retail-consumer/chinas-anta-sports-has-offered-buy-pinault-familys-29-puma-stake-sources-say-2026-01-08/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6__-zrtS media-story-card-module__headline__ZWaRz">Exclusive: China&#x27;s Anta Sports has offered to buy Pinault family&#x27;s 29% Puma stake, sources say</a><div class="media-story-card-module__date-line__37fk5"><time data-testid="Label" dateTime="2026-01-08T18:46:23Z" class="text-module__text__0GDob text-module__inherit-color__PhuPF text-module__regular__qJJtA text-module__extra_small__8Buss label-module__label__Sv2H2 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text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Pictures</span></a></li><li class="link-group-module__item__Za3t6"><div data-testid="Media" class="link-group-module__symbol__vLvQd media-module__symbol__O-kyE media-module__none__3jUM3"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 16 16" aria-hidden="true" focusable="false" role="presentation" aria-labelledby="react-aria-:Rn8oum:"><path d="M14.386.95c.483.049.907.266 1.213.632v-.01c.296.366.434.811.394 1.276l-.956 9.82c-.079.78-.67 1.394-1.45 1.532v.06c0 .959-.798 1.74-1.774 1.74H1.775C.799 16 0 15.219 0 14.26V4.4c0-.959.799-1.74 1.775-1.74h.582l.108-1.088C2.544.672 3.323 0 4.23 0h.168l9.988.95ZM9.357 8.9l-.039.04v-.01l-5.926 5.745h8.44c.227 0 .414-.148.444-.366v-2.75L9.545 8.9a.208.208 0 0 0-.188 0Zm2.91.84V4.4h-.01a.427.427 0 0 0-.375-.425H1.775a.445.445 0 0 0-.444.366v9.928c0 .159.089.297.227.376L8.39 8.02a1.515 1.515 0 0 1 2.002-.09l.108.09 1.765 1.72Zm-8.57-7.08h8.116c.976 0 1.774.781 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class="link-group-module__symbol__vLvQd media-module__symbol__O-kyE media-module__none__3jUM3"><svg viewBox="0 0 21 21" fill="none" xmlns="http://www.w3.org/2000/svg" aria-hidden="true" focusable="false" role="presentation"><path fill-rule="evenodd" clip-rule="evenodd" d="M4.52695 8.72305C4.52695 5.42421 7.20119 2.74998 10.5 2.74998C13.7989 2.74998 16.4731 5.42421 16.4731 8.72305V11.7234H15.9615C15.4093 11.7234 14.9615 12.1711 14.9615 12.7234V19.6465C14.9615 20.1987 15.4093 20.6465 15.9615 20.6465H18.3C19.515 20.6465 20.5 19.6615 20.5 18.4465V13.9234C20.5 12.7328 19.5543 11.7631 18.3731 11.7246V8.72305C18.3731 4.37487 14.8482 0.849976 10.5 0.849976C6.15185 0.849976 2.62695 4.37487 2.62695 8.72305V11.7246C1.44574 11.7631 0.5 12.7328 0.5 13.9234V18.4465C0.5 19.6615 1.48497 20.6465 2.7 20.6465H5.03846C5.59075 20.6465 6.03846 20.1987 6.03846 19.6465V12.7234C6.03846 12.1711 5.59075 11.7234 5.03846 11.7234H4.52695V8.72305Z"></path></svg></div><a data-testid="Link" ui_element_category="Media" target="_self" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/podcasts/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Podcasts</span></a></li></ul></section></div><section data-testid="LinkGroup" class="site-footer-module__link-group__Hxt4R site-footer-module__hidden-mobile__5cjU9"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6_light__klgho link-group-module__label__mDGn2">Latest</h2><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Latest" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Home</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Latest" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/authors/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Authors</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Latest" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/topics/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Topic Sitemap</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Latest" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/archive/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Archive</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Latest" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sitemap/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Article Sitemap</span></a></li></ul></section><section data-testid="LinkGroup" class="site-footer-module__link-group__Hxt4R"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6_light__klgho link-group-module__label__mDGn2">Browse</h2><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/world/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">World</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/business/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Business</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/markets/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Markets</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sustainability/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Sustainability</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/legal/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Legal</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/breakingviews/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Breakingviews</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/technology/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Technology</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/investigations/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Investigations</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/sports/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Sports</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/science/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Science</span></a></li><li class="link-group-module__item__Za3t6"><a data-testid="Link" ui_element_category="Browse" target="_self" referrerPolicy="no-referrer-when-downgrade" href="/lifestyle/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Lifestyle</span></a></li></ul></section><section data-testid="LinkGroup" class="site-footer-module__link-group__Hxt4R site-footer-module__hidden-mobile__5cjU9"><h2 data-testid="Heading" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__light__ZYtNU text-module__heading_6__u1KdJ heading-module__base__p-zaD heading-module__heading_6_light__klgho link-group-module__label__mDGn2">Media</h2><ul class="link-group-module__list__yrOzI link-group-module__vertical__vGvtx"><li class="link-group-module__item__Za3t6"><div data-testid="Media" class="link-group-module__symbol__vLvQd media-module__symbol__O-kyE media-module__none__3jUM3"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 16 11" aria-hidden="true" focusable="false" role="presentation" aria-labelledby="react-aria-:R4q8um:"><path d="M15.6665,1.5665 C15.4665,1.433 15.2,1.5 15,1.633 L11.3335,4.233 L11.3335,2.1665 C11.3335,1.033 10.467,0.1665 9.3335,0.1665 L2,0.1665 C0.8665,0.1665 0,1.033 0,2.1665 L0,8.833 C0,9.9665 0.8665,10.833 2,10.833 L9.3335,10.833 C10.467,10.833 11.3335,9.9665 11.3335,8.833 L11.3335,6.7665 L14.9335,9.3665 C15.067,9.433 15.2,9.5 15.3335,9.5 C15.467,9.5 15.5335,9.5 15.667,9.4335 C15.867,9.3 16.0005,9.1 16.0005,8.8335 L16.0005,2.167 C16.0005,1.9005 15.867,1.7005 15.667,1.567 L15.6665,1.5665 Z M10,8.8335 C10,9.2335 9.7335,9.5 9.3335,9.5 L2,9.5 C1.6,9.5 1.3335,9.2335 1.3335,8.8335 L1.3335,2.167 C1.3335,1.767 1.6,1.5005 2,1.5005 L9.3335,1.5005 C9.7335,1.5005 10,1.767 10,2.167 L10,8.8335 Z M14.6665,7.5665 L11.8,5.5 L14.6665,3.4335 L14.6665,7.567 L14.6665,7.5665 Z"></path></svg></div><a data-testid="Link" ui_element_category="Media" target="_self" referrerPolicy="no-referrer-when-downgrade" href="https://www.reuters.com/video/" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__default__R2Ckt link-module__link__INqxZ link-module__underline_on_hover__YTwYC link-group-module__link__BcHeN"><span data-testid="LinkGroupItem" class="text-module__text__0GDob text-module__dark-grey__UFC18 text-module__medium__2Rl30 text-module__heading_6__u1KdJ">Videos</span></a></li><li class="link-group-module__item__Za3t6"><div data-testid="Media" class="link-group-module__symbol__vLvQd media-module__symbol__O-kyE media-module__none__3jUM3"><svg xmlns="http://www.w3.org/2000/svg" viewBox="0 0 21 18" 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Khan","first_name":"Shariq","last_name":"Khan","company":"Reuters","thumbnail":{"url":"https://author-service-images-prod-us-east-1.publishing.aws.arc.pub/reuters/86d60e13-8b32-499f-ad5a-ae5480fabf8a.jpg","type":"image","resizer_url":"https://www.reuters.com/resizer/v2/https%3A%2F%2Fauthor-service-images-prod-us-east-1.publishing.aws.arc.pub%2Freuters%2F86d60e13-8b32-499f-ad5a-ae5480fabf8a.jpg?auth=451e903e4dea6410ac5ea92d81faed7bb1cdc220b99bf7d28c1bbc4a2434435b"},"social_links":[{"site":"email","url":"mailto:Shariq.Khan@thomsonreuters.com"},{"site":"twitter","url":"https://x.com/shariqrtrs"},{"site":"linkedin","url":"https://www.linkedin.com/in/shariq-a-khan/"}],"byline":"Shariq Khan","description":"Shariq is a New York-based energy reporter and has led coverage of the destruction caused in the oil patch by the coronavirus pandemic, the industry's rebuilding efforts, and the upheaval of trade routes from Russia's invasion of Ukraine, among other major developments.","topic_url":"/authors/shariq-khan/","role":"Americas energy markets correspondent"},{"id":"robert.harvey@thomsonreuters.com","name":"Robert Harvey","first_name":"Robert","last_name":"Harvey","company":"Reuters","thumbnail":{"url":"https://cloudfront-us-east-2.images.arcpublishing.com/reuters/H24NV3AFCZCWPC463OG3JRYY7U.jpg","type":"image","resizer_url":"https://www.reuters.com/resizer/v2/https%3A%2F%2Fcloudfront-us-east-2.images.arcpublishing.com%2Freuters%2FH24NV3AFCZCWPC463OG3JRYY7U.jpg?auth=4dd3566d980534ddab2fb815cfdf9f08e04ca3d4f4dd0c88f6e42931b1e77167"},"social_links":[{"site":"email","url":"mailto:Robert.Harvey@thomsonreuters.com"}],"byline":"Robert Harvey","topic_url":"/authors/robert-harvey/"}],"eleven_labs":{"project_id":"K3uFQ6XhKe1Ua8z69lUN","html_snippet":"<div id=\"elevenlabs-audionative-widget\" data-height=\"90\" data-width=\"100%\" data-frameborder=\"no\" data-scrolling=\"no\" data-publicuserid=\"4755746b1f90e57c3c83176ebb4062380b8a9a1a2e7bf22c8d2d745486357d64\" data-playerurl=\"https://elevenlabs.io/player/index.html\" data-projectid=\"K3uFQ6XhKe1Ua8z69lUN\" >Loading the <a href=\"https://elevenlabs.io/text-to-speech\" target=\"_blank\" rel=\"noopener\">Elevenlabs Text to Speech</a> AudioNative Player...</div><script src=\"https://elevenlabs.io/player/audioNativeHelper.js\" type=\"text/javascript\"><\/script>","audio_url":"https://eleven-public-cdn.elevenlabs.io/audio-native/4755746b1f90e57c3c83176ebb4062380b8a9a1a2e7bf22c8d2d745486357d64/K3uFQ6XhKe1Ua8z69lUN/jN9FOOTswYYin77Nq5rC.mp3"},"article_header":{"label":"Venezuela","url":"/world/venezuela/","sub_topic_metadata":[{"name":"US flexes air power in Maduro extraction ","url":"/business/aerospace-defense/us-flexes-air-power-maduro-extraction-mission-2026-01-07/","type":"story"},{"name":"Was Maduro's capture legal?","url":"/world/us/was-us-capture-venezuelas-president-legal-2026-01-03/","type":"story"}]},"excerpt":{"content":"U.S. President Donald Trump's administration has invited the bosses of commodity trading houses Vitol and Trafigura to the White House on Friday for talks on marketing Venezuelan oil, four sources familiar with the matter told Reuters.","type":"paragraph"},"content_elements":[{"content":"U.S. President Donald Trump's administration has invited the bosses of commodity trading houses Vitol and Trafigura to the White House on Friday for talks on marketing Venezuelan oil, four sources familiar with the matter told Reuters.","type":"paragraph"},{"content":"European trading houses have traditionally dominated global oil trading and could help the U.S. sell oil from Venezuela even though Washington wants U.S. majors to play the biggest role.","type":"paragraph"},{"content":"Geneva-headquartered Vitol has already <a href=\"https://www.reuters.com/business/energy/vitol-gets-preliminary-us-license-begin-negotiations-venezuelan-oil-imports-2026-01-08/\">received</a> a preliminary licence from the U.S. government to begin negotiations for the import and export of oil from Venezuela for 18 months, four sources told Reuters on Thursday.","type":"paragraph"},{"content":"The White House has said it would be hosting U.S. oil majors on Friday, but the invitation to trading houses has not been previously reported.","type":"paragraph"},{"content":"Reuters could not immediately obtain a full list of those invited to the meetings.","type":"paragraph"},{"content":"Vitol and Trafigura, which was also formerly based in Geneva but is now headquartered in Singapore, declined to comment. The White House did not comment on whether Vitol and Trafigura were invited.","type":"paragraph"},{"level":1,"content":"US INDEFINITE CONTROL OF OIL SALES","type":"header"},{"content":"The Trump administration set its sights on Venezuela's oil industry soon after U.S. forces captured President Nicolas Maduro on January 3. Washington has said it <a href=\"https://www.reuters.com/business/energy/us-wants-venezuelan-oil-flowing-again-with-revenues-us-accounts-wright-says-2026-01-07/\">wants to control</a> Venezuela's oil sales and revenue indefinitely.","type":"paragraph"},{"content":"The U.S. Department of Energy said on Wednesday it was engaging with commodity marketers and banks to execute and to provide financial support for Venezuelan crude oil and fuel sales to the country. It did not specify which companies.","type":"paragraph"},{"content":"Trump has already said U.S. companies will invest in Venezuela and rebuild its oil industry to produce more oil and bring global energy costs down.","type":"paragraph"},{"content":"Washington and Caracas <a href=\"https://www.reuters.com/business/energy/venezuela-us-talks-export-venezuelan-oil-us-sources-say-2026-01-06/\">agreed a deal</a> this week to export some 30-50 million barrels of oil worth $2 billion to the United States but U.S. oil majors have said they want \"<a href=\"https://www.reuters.com/business/energy/us-oil-companies-say-they-need-guarantees-invest-venezuela-ft-reports-2026-01-08/\">serious guarantees</a>\" before they make investments.","type":"paragraph"},{"content":"Years of under-investment and sanctions have led Venezuela's output to fall to around 1 million barrels per day, or just 1% of global supply, from 3.5 million bpd in the 1970s when it accounted for 7% of global oil.","type":"paragraph"},{"level":1,"content":"INVOLVEMENT IN VENEZUELA","type":"header"},{"content":"Vitol and Trafigura were among the most active traders of Venezuelan oil prior to U.S. sanctions in 2019.","type":"paragraph"},{"content":"In the past, they have marketed Venezuelan oil received from state firm PDVSA’s European partners, which were U.S. licence holders. And their capacity to have tanker fleets in Venezuela quickly and trade barrels exceeds that of many joint venture partners.\nYet they might not have first access to Venezuela’s crude.","type":"paragraph"},{"content":"\"U.S. majors are central to production, but large international trading houses bring global reach and optionality the majors lack. It therefore makes clear sense for these traders to engage proactively with the U.S. government to discuss next steps,\" Jean-Francois Lambert of consultancy Lambert Commodities said.","type":"paragraph"},{"content":"U.S. oil major Chevron <a href=\"https://www.reuters.com/markets/companies/CVX.N\" target=\"_blank\">(CVX.N)</a> <a href=\"https://www.reuters.com/business/energy/chevron-talks-with-us-government-expanded-venezuela-license-sources-say-2026-01-07/\">is in talks</a> with the U.S. government to expand a licence to operate in Venezuela so it can sell to other buyers, as well as to increase exports to its own refineries, Reuters reported on Wednesday.","type":"paragraph"},{"content":"Under U.S. licences, Chevron, India's Reliance, Italy's Eni <a href=\"https://www.reuters.com/markets/companies/ENI.MI\" target=\"_blank\">(ENI.MI)</a>, Spain's Repsol <a href=\"https://www.reuters.com/markets/companies/REP.MC\" target=\"_blank\">(REP.MC)</a>, France's Maurel & Prom and China's CNPC have intermittently been the main traders of Venezuelan oil since sanctions were imposed in 2019.","type":"paragraph"}],"response_time":1767899583458},"_id":"c7ecdec2ab0680c8b63ad5f7f82c963e58159c96f1810bf293b39dec3caf7101"};Fusion.globalContentConfig={"source":"article-by-id-or-url-v1","query":{"uri":"/business/energy/vitol-trafigura-talks-with-us-venezuelan-oil-sales-sources-say-2026-01-08/","website":"reuters","published":"true","website_url":"/business/energy/vitol-trafigura-talks-with-us-venezuelan-oil-sales-sources-say-2026-01-08/","arc-site":"reuters"}};Fusion.lastModified=1767899609287;Fusion.contentCache={"site-hierarchy-by-name-v1":{"{\"hierarchy_name\":\"Website\",\"website\":\"reuters\"}":{"data":{"statusCode":200,"message":"Success","result":{"id":"/","website":"reuters","name":"Reuters","language":"en","type":"section","node_type":"section","children":[{"id":"/world/","ad_unit_code":"/world","website":"reuters","name":"World","page_title":"World","can_follow":true,"language":"en","type":"section","advertising":{"sponsored":"false"},"node_type":"section","children":[{"id":"/world/africa/","ad_unit_code":"/africa","website":"reuters","name":"Africa","page_title":"Africa","can_follow":true,"language":"en","type":"section","advertising":{"sponsored":"false"},"node_type":"section"},{"id":"/world/americas/","ad_unit_code":"/americas","website":"reuters","name":"Americas","page_title":"Americas","can_follow":true,"language":"en","type":"section","advertising":{"sponsored":"false"},"node_type":"section"},{"id":"/world/asia-pacific/","ad_unit_code":"/apac","website":"reuters","name":"Asia 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