US will control Venezuelan oil sales 'indefinitely': US energy secretary

US Energy Secretary Chris Wright said that Washington will control sales of Venezuelan oil "indefinitely," a day after President Donald Trump announced Venezuela's interim leaders had agreed to US-managed marketing of 30-50 million barrels of crude.

"We're going to market the crude coming out of Venezuela, first this backed-up stored oil, and then indefinitely, going forward, we will sell the production that comes out of Venezuela into the marketplace," Wright said at a Goldman Sachs energy event in Miami.

Wright suggested sanctions on the country's oil sector would be waived to facilitate the export of its oil. The US would be "the supplier" of the diluting agents needed to get Venezuela's extra-heavy crude oil ready for shipment, he said.

"As we make progress with the government, you know, we'll enable the importing of parts and equipment and services to kind of prevent the industry from collapsing, stabilise the production, and then as quickly as possible, start to see it growing again."