The Trump administration has officially authorized Chevron to restart its oil operations in Venezuela, marking a significant shift in US policy towards the country. This move, which has been in the works as the US prepares for limited oil operations, reflects a strategic approach to potentially support US refiners while attempting to limit benefits to Venezuelan President Nicolás Maduro. Following a recent prisoner swap, this decision is seen as a way to ease tensions and may allow Chevron, among other firms, to operate under certain restrictions. Despite the risks involved, market reactions indicate an immediate impact on oil futures and supply outlooks.