(Jan 7): The United States needs to control Venezuela's oil sales and revenue indefinitely to drive the changes it wants to see in the country, Energy Secretary Chris Wright said on Wednesday. "We need to have that leverage and that control of those oil sales to drive the changes that simply must happen in Venezuela," Wright said at the Goldman Sachs Energy, CleanTech & Utilities Conference in Miami. Wright added he was speaking to U.S. oil companies to learn what conditions would enable them to enter Venezuela to help boost production there. The agreement is a sign Venezuelan government officials are responding to Trump's demand that they open up to U.S. oil companies or risk more military intervention. "Instead of the oil being blockaded as it is right now, we're going to let the oil flow," Wright said at the conference.

Source: The Edge Markets January 07, 2026 17:45 UTC