US will sell Venezuelan oil ‘indefinitely’ and remit proceeds, Wright says

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Energy Secretary Chris Wright said the United States plans to sell Venezuelan oil in the market “indefinitely,” while controlling the proceeds and directing the revenue back to Venezuela.

“Instead of the oil being blockaded, as it is right now, we’re gonna let the oil flow … to United States refineries and around the world to bring better oil supplies, but have those sales done by the U.S. government,” Wright said on Wednesday at Goldman Sachs’s Energy, CleanTech & Utilities Conference.

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