Venezuelan Oil in Texas & Rising Prices

Newsletter No. 189

Good afternoon subscriber,

There’s a lot happening in energy this week, and several developments are worth watching. Venezuelan crude has arrived on the Texas Gulf Coast under a new U.S. agreement, oil prices are responding to global supply concerns, and a major natural gas acquisition is highlighting the growing value of U.S. energy assets. We’re also looking at proposed LNG regulations that could help support future development and investment.

At King Operating, we have some great educational opportunities coming up, including a webinar featuring Dan Steffens of Energy Prospectus Group (EPG). We’ll be discussing energy markets and investment considerations to help investors better understand the opportunities and risks in today's market.

We also have a new episode of The Jay Young Show featuring Ryan Harper, “The Power of Networking: How Relationships and Media Drive Business Growth.” We discuss the importance of building strong relationships, creating meaningful connections, and using media to grow a business.

Keep reading this week’s The Upside for a closer look at the stories shaping the energy market.

This Week's Headlines

Oil and Gas News

Venezuelan Oil Reaches Texas Under New U.S. Deal
Two tankers carrying a combined one million barrels of Venezuelan crude arrived in Corpus Christi on Tuesday under a new agreement involving the U.S. government and North American Blue Energy Partners. The oil is expected to be sold to ExxonMobil and Citgo refineries, supporting refining activity along the Gulf Coast.

The agreement also gives the U.S. access to additional Venezuelan production as the country works to rebuild its oil industry. For American refiners, more crude supply means additional sourcing options. For the broader industry, it shows how important U.S. infrastructure, refining capacity, and technical expertise remain as energy trade continues to develop across the Western Hemisphere.

Oil Prices Rise as Global Supply Concerns Return
Oil prices moved higher Wednesday after reports of an attack on a major Saudi Arabian refinery raised concerns about global supply. WTI crude climbed approximately 1.4% to $101.33 per barrel during the trading session. Preliminary industry data also showed U.S. crude inventories falling by roughly two million barrels last week, adding support to prices.

For U.S. producers, stronger oil prices can improve well economics and provide additional cash flow from existing production. However, the market remains sensitive to developments in the Middle East. Operators that maintain disciplined spending and manage costs are better positioned to navigate these price swings while evaluating new drilling opportunities.

As of October 29, 2026

New LNG Proposal Could Speed U.S. Energy Development
Federal regulators have proposed updated safety rules intended to help accelerate the development of U.S. LNG facilities. The proposal would allow operators to use newer technologies and could reduce industry costs by an estimated $100 million annually. The United States is already the world's largest LNG exporter, with additional capacity expected to come online before the end of the decade.

This is an important development for domestic natural gas producers. Expanding LNG capacity creates more opportunities to move American gas into international markets, but getting projects built requires significant capital and dependable infrastructure. A more efficient approval and development process could help support investment in pipelines, production, and export facilities, although projects would still need to satisfy other permitting requirement.