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Commodities

Venezuela Oil Production Set for Massive Boost

Guavy AI Editorial Team
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Oil
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US Energy Secretary Chris Wright arrived in Caracas on Tuesday night, bringing news that companies are close to signing deals that will significantly boost Venezuela's oil output.

According to Wright, these agreements will lead to a more than doubling of Venezuelan oil production in the next few years.

The exact timeline for the increased production is not specified, but Wright emphasized that several deals will be announced soon, paving the way for this rapid expansion.

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