US targets 1.5M bpd Venezuela oil output via US firms

Interior Secretary Doug Burgum announced US companies will lead an expansion of Venezuelan oil output to 1.5 million barrels per day, as Washington seeks new supplies and lower-cost crude. This marks a significant policy shift toward engaging with Venezuela's energy sector, likely easing sanctions or providing incentives. The move could increase global supply and pressure oil prices, though operational and political hurdles remain.