Venezuela Sends Half of Oil Production to US Refineries

Venezuela's oil exports to the US are on the rise, according to U.S. Energy Under Secretary Kyle Haustveit.

In a recent event in Houston, Haustveit stated that Venezuela is currently exporting approximately half of its oil production to the United States.

The country's daily oil output stands at around 1.25 million barrels, with over 500,000 barrels per day flowing to US refineries in recent months.

Haustveit noted progress in Venezuela and stated that the sanctity of contracts would be respected.