Trump might keep Exxon out of Venezuela; shares fall

Shares of U.S. energy major Exxon Mobil XOM.N fall more than 1% to $123.06 premarket

U.S. President Donald Trump said on Sunday he might block XOM from investing in Venezuela following CEO Darren Woods comments that the South American country is "uninvestable"

During a White House meeting with oil executives on Friday, Woods said Venezuela would need to change its laws before it could be an attractive investment opportunity

"I didn't like Exxon's response," Trump told reporters on Air Force One on Sunday, adding that he would "probably be inclined to keep Exxon out. I didn't like their response. They're playing too cute"

*Allen Good, an analyst at Morningstar, said it is "unlikely that Exxon will or can be excluded, if the President wants large-scale development to be led by U.S. companies"

Exxon stock was also pressured by a fall in crude oil prices as investors assessed Iran supply and Venezuelan export resumption O/R

In 2025, XOM gained 11.8%