Venezuela Oil Production Set to Double with New Agreements

U.S. Energy Secretary Chris Wright announced that multiple companies are poised to sign agreements aimed at significantly boosting Venezuela's oil production.

According to Wright, these agreements could lead to more than a doubling of the country's oil output in the coming years.

The agreements involve discussions with Venezuelan interim president Delcy Rodriguez, who is expected to unveil over ten agreements with energy firms, including a major expansion of Chevron's operations in the Orinoco heavy oil belt.