Halliburton Advances Venezuela Deals Amid Eased Sanctions, Risking Oil Price Drop

Halliburton is negotiating commercial terms with customers to restart Venezuela operations after inspecting bases found in better condition than expected. The firm exited in 2020 due to U.S. sanctions but saw interest surge since the January 2026 U.S. capture of Nicolás Maduro, easing restrictions and prompting Chevron's output ramp-up plans. This boosts demand for oilfield services and equipment as Halliburton hires staff, but renewed production could flood global supply and pressure oil prices downward.