US Forecasts Venezuela's Oil Production Will Increase by 50% After New Agreements
· Telemundo McAllen (KTLM)
WASHINGTON – US Energy Secretary Chris Wright insisted on Wednesday that, due to new agreements being signed with American oil companies, crude oil production in Venezuela will increase by 50% by 2027. "I said from the beginning, when President Trump approved these measures, that within 12 to 18 months Venezuelan production would increase by 50%. I stand by that prediction," Wright explained in an interview with CNBC in Caracas. "Today the daily production figure exceeds 1.2 million barrels per day. We believe that by the first half of next year we will significantly surpass one and a half million barrels daily, and that Venezuelan production will exceed two million barrels per day by the end of this decade," Wright emphasized. However, many experts remain skeptical of such predictions, considering it very difficult to achieve those volumes due to the deterioration of infrastructure, the need to inject significant amounts of capital, or the political uncertainty in Venezuela.
AI summary · Source: Telemundo McAllen (KTLM) →
