U.S. Energy Secretary Chris Wright stated on September 2, 2026, that private companies are poised to sign deals that will enable Venezuela to rapidly double its crude oil output in coming years. Wright also noted that China will have no claim to Venezuelan oil revenues.
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US energy secretary says Venezuela oil output to more than double in next few years Reuters
US Energy Secretary Chris Wright said companies are on the cusp of signing a series of deals that will put Venezuela on pace to rapidly expand its output of crude.
With private companies on the cusp of signing a series of deals that will put Venezuela on pace to rapidly expand its crude output, US Energy Secretary Chris Wright said that China won’t have any debt claims to the revenue from new production.