Energy experts say the US and China are diverging on the energy transition, with China sprinting far ahead on renewables and EVs, while the US doubles down on drilling oil at home and abroad.

Venezuelan crude oil worth $2.8 billion could reach Texas refineries next week following Trump's announcement of 50 million barrels heading to Gulf Coast.

Oil prices rose on Friday on concerns about potential disruption to Iran's output and uncertainty about supply from Venezuela.

In a social media post on Tuesday, Trump said Venezuela would hand over 30 to 50 million barrels of oil to the U.S., which in turn would sell them at their market price. The resulting funds -- as much as $2.8 billion at current prices -- will “benefit the people of Venezuela and the United States,” Trump said.

Houston oil giants Exxon Mobil and ConocoPhillips were among the energy companies pushed out of the country, costing them billions.

Petróleos de Venezuela said the talks were "within the framework of the commercial relations that exist between both countries."

When the markets reopened on Monday, however, just three oil company stocks seemed to benefit. Here's why these three oil stocks surged after Venezuelan President Maduro's capture and whether they're likely to reap long-term gains. Image source: Getty Images.

Shell warned that a weak oil-trading performance would weigh on its earnings, compounding what is shaping up to be a challenging period as prices continue to slide.