U.S. Energy Secretary Says Venezuela Oil Output Will More Than Double in Coming Years

According to Jin10, U.S. Energy Secretary Wright said after arriving in Venezuela on Tuesday that related agreements to be signed in Caracas on Wednesday by U.S. and other countries' oil companies will push Venezuelan crude output to more than double in the coming years. He said the investments covered by these agreements will significantly increase the amount of oil available for supply and put downward pressure on oil prices. Wright also said the biggest bottleneck for gasoline and diesel prices is refining capacity, and that U.S. gasoline prices are expected to fall in the coming weeks thanks to the Trump administration's easing of refinery regulations.