U.S. Energy Secretary Says Venezuela Could See Surge in Oil Output
Market Intelligence Analysis
AI-PoweredU.S. Energy Secretary Chris Wright predicts a potential surge in Venezuela's oil output to 1 million barrels per day, citing opportunities for growth in oil, natural gas, and electricity production.
Market impact analysis based on bullish sentiment with 80% confidence.
Article Context
Venezuela’s crude oil production could increase dramatically as soon as this year, U.S. Energy Secretary Chris Wright said during his visit in the South American country. “This year, we can drive a dramatic increase in Venezuelan oil production, in Venezuelan natural gas production and Venezuelan electricity production,” Wright said, as quoted by Reuters, following a meeting with interim president Delcy Rodriguez. Currently, Venezuela produces around 1 million barrels of oil daily and has been having chronic problems with electricity…
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