Oil stocks rally as US pushes cos to invest big in Venezuela

Shares of energy companies rally after U.S. military intervention in oil-rich Venezuela late last week

Brent crude futures LCOc1 up 1.1% at $61.43 per barrel; U.S. West Texas Intermediate CLC1 up 1.3% at $58.1 per barrel

*U.S President Donald Trump says Washington needs "total access" to Venezuela’s oil reserves, fueling bets that curbs on the South American country's crude exports could be eased

Exxon Mobil XOM.N a nd Chevron CVX.N u p 0.6% and 2.7%, respectively; ConocoPhillips COP.N gains ~1%

SLB SLB.N up 7.8%, Halliburton HAL.N rises 7.9%, Baker Hughes BKR.O up 2.8%

Scotiabank says ConocoPhillips COP.N is the biggest near-term beneficiary if power transfers to a pro-West candidate, potentially receiving up to $10 billion in past claims and rejoining the Hamaca and Petrozuata projects

Brokerage adds while CVX will not receive much in upfront one-time payments, its status as sole US company currently in Venezuela may give it a head start

J P Morgan sees oil output expanding to 2.5 mln barrels/day over the next decade, provided there is a political transition alongside new investments and reforms