U.S. says it will oversee Venezuela oil sales 'indefinitely', energy secretary says

Energy Secretary Chris Wright said Wednesday the United States intended to maintain significant control over Venezuela's oil industry, including overseeing the sale of the country's production "indefinitely." He made the comments at a Goldman Sachs energy conference near Miami: "Going forward we will sell the production that comes out of Venezuela into the marketplace." Mr.

Wright's remarks followed a statement from President Trump late Tuesday that Venezuela would soon hand over tens of millions of barrels of oil to the United States. Mr. Trump said Venezuela would send 30 million to 50 million barrels, or up to two months' worth of daily production, and that he would control the profits from those sales.

It was not immediately clear what legal authority the Trump administration would operate under, and as of Wednesday morning leaders in Caracas had not commented publicly. Mr. Wright said the administration was in "active dialogue" with Venezuela's leadership and with U.S. oil giants that have operated in the country.

Executives from some of the largest Western oil producers are expecting to meet Mr. Trump at the White House on Friday afternoon, according to people familiar with the plans. Mr.

Key Topics

Business, Venezuelan Oil, Chris Wright, Donald Trump, Caracas, White House Meeting