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U.S. Energy Secretary Predicts Venezuela's Oil Production Surge This Year

KVIA•Tuesday, February 17, 2026 at 8:27 PM•CNN Newsource

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U.S. Energy Secretary Chris Wright announced that Venezuela's oil production is expected to contribute 30-40% of the global increase in crude supply this year. Currently producing under one million barrels per day, Venezuela could see an increase of several hundred thousand barrels by year-end. Wright emphasized that U.S. interests in Venezuela are geopolitical rather than purely economic, aiming to influence the country's situation through economic activity rather than military force. He noted improvements in Venezuela, including the release of political prisoners, while acknowledging that many still remain detained. Wright is in Paris for the International Energy Agency's ministerial meeting, highlighting the significance of these developments in the global oil market.

Key Details: • Venezuela's oil production could increase by hundreds of thousands of barrels daily by the end of 2023. • U.S. interest in Venezuela focuses on geopolitical stability rather than economic gain. • Wright highlighted the release of political prisoners as a positive change in Venezuela.

international-relations venezuela energy oil geopolitics

People & Organizations

Donald TrumpVenezuelaNicolás MaduroParisChris WrightDelcy RodríguezInternational Energy Agency

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