U.S. Energy Secretary: Venezuela's oil to more than double
Oil prices in Oman have risen by more than $8, reaching $83.5 per barrel, prompting calls for new measures to enhance economic stability. This increase comes after a 3% decrease in water production and a 5.7% rise in electricity generation by the end of June. Meanwhile, the U.S. Energy Secretary anticipates Venezuela's oil production to more than double. The Paris Global Investment Summit is discussing prospects for cooperation between Gulf countries and Europe, amid an unprecedented escalation of military operations by the United States and Iran in the Gulf, including strikes on Revolutionary Guard targets inside Iran and missile interceptions.
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