The Trump administration will sell Venezuelan oil “indefinitely” and control the proceeds, Energy Secretary Chris Wright announced Wednesday, as part of the administration’s broader strategy to manage Venezuela’s oil exports and rebuild its energy sector.
Speaking at a Goldman Sachs conference in Miami, Wright said the U.S. will initially market backed-up crude currently stored in Venezuelan facilities and tankers, then continue selling all Venezuelan oil production going forward.
“We’re going to market the crude coming out of Venezuela—first this backed up, stored oil, and then indefinitely, going forward, we will sell the production that…
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