Warren Buffett's Berkshire Hathaway owns about 6% of Chevron, the only US oil major currently operating in Venezuela.

Oil major Chevron Corp , global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter.

Some of the top oil companies in America will be at the meeting, including Chevron, ExxonMobil, ConocoPhillips and Shell.

Chevron stock and other oil companies were soaring early Monday even as crude prices were only up around 1% following the surprise U.S. operation to capture Venezuelan President Nicolás Maduro.

President Donald Trump has invited U.S. oil companies to a meeting at the White House on Friday, which is expected to begin at 2:30 p.m. Eastern time.

Chevron ( CVX 0.79%) is lining up with private equity group Quantum Energy in a bid for sanctioned Russian oil company Lukoil's international assets, the Financial Times reports. Lukoil said last year it would sell its non-Russian operations.

Energy Secretary Christopher Wright reveals how American oil giants plan to help rebuild Venezuela's industry after decades of socialist mismanagement and economic collapse.

This week, Tracey went solo to talk about the oil stocks given the recent developments in Venezuela and the price of oil holding in the $50s, which is historically low. Chevron, Exxon Mobil, and ConocoPhillips have all been producers in Venezuela in the past.