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Administration credits Venezuelan oil inflows for easing U.S. fuel costs; officials cite refinery fit
Summary
The Energy Secretary and the president’s State of the Union cited new Venezuelan oil shipments and higher U.S. production as factors that could lower diesel, jet and gasoline prices; officials framed sanctions enforcement and refinery configuration as key to the change.
President Trump, in a State of the Union excerpt played at the start of the interview, said U.S. oil production is “up by more than 600,000 barrels a day” and that the country has received “more than 80,000,000 barrels of oil” from Venezuela. "American natural gas production is at an all time high," he added, repeating the administration's long-standing slogan, "drill, baby, drill."
Energy Secretary Christopher Wright told the program that renewed enforcement of sanctions and recent changes in Venezuelan policy led the country to ramp up production and begin sending…
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