The CEOs heaped praise on the president’s actions in Venezuela but made no firm commitments to put money into restoring the country’s oil production.

As Washington talks up a return of US oil companies, the world’s biggest producer says deep legal and political risks still stand in the way.

The complex political situation in Venezuela could harm new investments and will likely keep big oil on the sidelines while the new Venezuelan oil power players emerge.

It was a week when both oil and natural gas prices logged steep losses. Overall, it was a catastrophic seven-day period for the sector. West Texas Intermediate (WTI) crude futures plunged more than 10% to close at $61.99 per barrel, while natural gas ...