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Washington Supports Venezuela Oil Ties
The article discussed U.S. Secretary of State Marco Rubio's support for Donald Trump's administration policy towards Venezuela, which includes a historic oil deal with Caracas approved over the past nine months following the ousting of President Nicolás Maduro. The aim is to stabilize the country and promote a transition to democracy through free and fair elections. It explained that the deal involves control over 65 billion barrels of Venezuelan oil reserves, and that the American company Chevron is expanding its investments in the country, with plans to increase production to around 600,000 barrels per day within five years through investments exceeding $7 billion. This agreement is considered the largest of its kind globally, although experts doubt the Venezuelan oil industry's ability to recover quickly due to the long-term neglect and chaos that have impacted the sector. Regarding the partnership, it was also emphasized that the deal would lead to lower oil prices and increased production, benefiting both the American and Venezuelan economies.
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