Venezuela Oil Revenue Projected to Hit $5 Billion Under U.S. Control
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Venezuela's oil sales, now under U.S. control, are projected to generate $5 billion in the coming months, according to U.S. Energy Secretary Chris Wright. The U.S. has already transferred $500 million from oil sales to Venezuela. While there are significant investments needed to restore the oil industry, Wright noted that Venezuela is becoming more investable. He also mentioned potential increases in oil and gas production this year, but highlighted that recent legal changes may not be sufficient to attract large capital flows.
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