US Energy Secretary says US can market oil at a better price than Venezuela, via Fox News interview; not going to cut off China; Venezuela oil production could be up 50% in the next 18 months

The Energy Secretary's remarks suggest a competitive stance for US oil in the global market, particularly compared to Venezuela, which may influence pricing dynamics for WTI crude.

Newsquawk StaffPublished 8 Jan 2026, 18:40 UTCOn the live feed at 18:20 UTC — 6 more headlines followed before this page went public

Newsquawk headlinesUTC

18:26

US Treasury Secretary Bessent says we haven't yet interviewed Rick Rieder; still four candidates to succeed Powell; think Trump will decide on Fed Chair in January

18:23

US Treasury Secretary Bessent says for the first time, the Chinese seem to be getting serious over fentanyl because of IEEPA tariffs; IEEPA tariffs have brought Mexico and Canada to the negotiating table

18:20

US Energy Secretary says US can market oil at a better price than Venezuela, via Fox News interview; not going to cut off China; Venezuela oil production could be up 50% in the next 18 months

18:19

UK Spokeswoman says PM Starmer and US President Trump held a phone call this afternoon, discussed Euro-Atlantic security and agreed on the need to deter an increasingly aggressive Russia in the High North

18:18

US Treasury Secretary Bessent says interest rates remain well above neutral and policy should not be restrictive; models suggest 2.5% to 3.25% for the FFR

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Context

The expectation of a 50% increase in Venezuelan oil production could also exacerbate supply considerations and affect market sentiment around oil prices. Traders should closely monitor how this interplay between US production capabilities and Venezuelan increases impact broader commodity trends.

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