US pushes for 'dramatic increase' in Venezuela oil output

CARACAS

U.S. Energy Secretary Chris Wright has vowed to power a "dramatic increase" in Venezuelan oil output as part of a plan to "make the Americas great again" after talks with acting president Delcy Rodriguez in Caracas.

Wright is the highest-ranking U.S. official to travel to Venezuela since U.S. special forces captured and overthrew longtime leader Nicolas Maduro on Jan. 3.

In a meeting with Rodriguez and oil industry executives he assured that President Donald Trump was "passionately committed" to transforming relations between the two former foes.

Rodriguez said she supported a "long-term productive partnership" that was "beneficial to both countries."

Venezuela, once a major crude supplier to the Untied States, has the world's largest proven reserves with more than 303 billion barrels.

In 2024, the South American country produced only about one percent of the world's total crude, however, its industry left haggard by years of underinvestment, mismanagement and U.S. sanctions.

Trump wants U.S. oil majors to rapidly rebuild the sector and boost output by millions of barrels per day, saying the United States and Caracas will share the profits.

The United States carried out a first sale of Venezuelan oil last month that made the Caribbean country $500 million.

Wright called for a "dramatic increase" in Venezuela's production of oil, natural gas and electricity which would improve "the job opportunities, the wages and the quality of life" of all Venezuelans.

The president of Venezuelan state oil firm PDVSA, Venezuela's diplomatic representative to the United States and the U.S. Charge d'Affaires in Caracas joined the talks.