Wright tells oil executives that Venezuela's output can rise 30%

Reuters01-21
Wright tells oil executives that Venezuela's output can rise 30%

LONDON, Jan 21 (Reuters) - U.S. Energy Secretary Chris Wright told oil company executives on Wednesday that Venezuela's output can rise 30% from current levels of 900,000 barrels per day in the short- to medium-term, three executives who attended the meeting said.

Raising crude output from Venezuela, which sits on the world's largest oil reserves, is a top objective for U.S. President Donald Trump after U.S. forces seized Venezuela's leader Nicolas Maduro in a raid earlier this month.

Wright's closed-door meeting with the executives took place on the sidelines of the World Economic Forum in Davos, Switzerland.

(Reporting by Dmitry Zhdannikov; writing by Stephanie Kelly)

((Stephanie.Kelly@tr.com))

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