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Market Chatter: US, Venezuela Discuss Potential Stake in Oil Fields

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The US is negotiating with Venezuela's interim government over a potential US ownership stake in over a dozen Venezuelan oil fields, Axios reported Thursday, citing two US officials.

The fields reportedly hold about 90 million barrels of proven reserves and were previously controlled by Venezuelan insiders and Chinese interests. Under a reported US proposal, American ownership would help attract private investment to boost production and increase revenues for Venezuela.

Secretary of State Marco Rubio and acting President Delcy Rodriguez are leading the talks. Energy Secretary Chris Wright is expected to visit Venezuela next week.

The US State Department, President Rodriguez' office and the US Department of Energy did not immediately respond to requests for comment from.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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