US: "Indefinite" Control Over Committee's Oil Sales

The Minister of Energy of Beijing declared that they will control Venezuela's oil sales "indefinitely."

U.S. Energy Secretary Chris Wright declared on the 7th that the United States will control Venezuelan oil sales "indefinitely."

Wright made the above statement at an energy industry conference held in Miami, USA. Wright, who has long served in the US oil and gas industry, said:The sale of Venezuelan oil will be controlled by the U.S. government, including not only the inventory but also future sales "indefinitely."Sales revenue will be deposited into an account controlled by the U.S. government, and then these funds can flow back to Venezuela "to benefit the Venezuelan people."

Wright said that the recent goal of the United States is to stabilize and grow Venezuela's oil production by providing heavy crude oil diluents, parts, equipment, and services. He noted that Venezuela's oil output could increase by hundreds of thousands of barrels in the coming years, but it would require hundreds of billions of dollars in investment and "a considerable amount of time" to return to historical highs. The U.S. will create conditions for large American oil companies to enter Venezuela. The Trump administration is also considering establishing a compensation mechanism for American oil companies investing in Venezuela.

On the 6th, U.S. President Trump stated on social media that Venezuela will transfer 30 to 50 million barrels of "sanctioned high-quality oil" to the United States, which will be sold at market price, and the proceeds will be "personally overseen" by him.

In the early hours of the 3rd, the United States launched a large-scale military strike against Venezuela, forcibly controlling Venezuelan President Maduro and his wife and bringing them to the United States. The Trump administration declared it would "manage" Venezuela, and the plundering of Venezuela's rich oil resources is believed to be its main motivation, which has been widely criticized and condemned globally.