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US Refiners Can Still Absorb More Venezuelan Crude, Energy Secretary Wright Says

Business & Policy
June 12, 2026

(Reuters) – U.S. refiners can still absorb more Venezuelan crude, Energy Secretary Chris Wright said Friday at an event at Port Houston.

Venezuela is sending about half of its total exports of 1.2 million barrels a day to the U.S., Wright said, adding that that percentage could increase in the coming months.

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Iran is not currently exporting any oil or products, Wright added. The U.S. has stepped up to fill the oil export void amid the Middle East conflict, Wright continued.

Reporting by Marianna Parraga in Houston