Oil sales under US-Venezuela deal expected to reach $2 billion by end of February, US says [Yahoo! Finance]
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Source: Yahoo! Finance
Secretary of Energy Chris Wright told reporters in ?Texas on Thursday. The U.S. took control of Venezuela's oil exports shortly after U.S. forces captured President Nicolas Maduro in early January, with proceeds going to a U.S.-supervised fund in Qatar. Since then, trading houses ?Vitol and Trafigura have ?been marketing and trading the lion's share of the OPEC country's oil under the pact, while ?partners of Venezuela's state oil company PDVSA, particularly Chevron, are boosting output and shipments. The export increase is already returning Venezuela's crude and ?fuel to ?markets that had not seen ?it arriving for months ?or years. More customers in Asia and Europe are negotiating deals to import soon, with 40 million barrels expected to have been sold by the end of February at about $50 per barrel, Wright said. The pact's initial sales target was between 30 million ?and 50 million barrels, U.S. President ?Donald Trump had said. Chinese independent refineries that ?were pre
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