11:05 - 13.02.2026

---

February 13, Fineko/abc.az. China has acquired some of the Venezuelan oil previously sold by the American side, US Energy Secretary Chris Wright said.

ABC.AZ reports that according to Wright, legal transactions with Chinese companies on market terms are acceptable.

The global market is adapting to the new situation after the U.S. established control over the Venezuelan oil sector. China, previously the largest buyer of Venezuelan oil, is building new logistics, and Indian refineries are increasing purchases. Exports are already expanding to new markets.

According to JPMorgan's forecast, if the current dynamics are maintained, production in Venezuela may grow up to 2 million b/d in the next 2-3 years. According to Wright, country's "oil quarantine" has actually been completed.