Venezuela's Oil Surge: A Game Changer for Global Energy

U.S. energy secretary Chris Wright announced that Venezuela could potentially increase its oil production by several hundred thousand barrels per day by the end of the year. Wright made these remarks during a conference in Paris, highlighting the potential impact on the global energy market.

In a significant development for the global energy sector, U.S. Energy Secretary Chris Wright announced on Tuesday that Venezuela is on track to boost its oil production substantially.

Wright, addressing a conference in Paris, stated that by the year's close, Venezuela could add several hundred thousand barrels per day to its oil output.

This potential increase in production could have far-reaching implications for the oil market, affecting prices and supply dynamics worldwide.

(With inputs from agencies.)