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US Energy Secretary Wright says Venezuela production +25% and exports +50%; China will not have a claim to Venezuela's oil fields

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US Energy Secretary Wright announced Venezuela's output rose 25% and exports 50%, with barrels designated for the SPR while excluding Chinese claims to Venezuelan oil fields.

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Haven't had discussions with Venezuela on OPEC. Trump is changing importance of Strait of Hormuz. Venezuela output will allow for swapping barrels. US Navy is overwhelming Iranian attacks. Venezuelan oil will go into the SPR.

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