Venezuela and the US hail new oil deal

The United States and Venezuela have welcomed a big energy deal which they've formally signed in Caracas, along with a series of agreements involving international oil firms. The US Energy Secretary Chris Wright said the deal would unlock tens of billions of dollars in investment and thousands of jobs. He said oil production would double in a decade. Critics say the deal hands Washington control of a fifth of Venezuela’s oil reserves and entrenches the current authoritarian government.

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Photo: Venezuela's acting president Delcy Rodriguez
Credit: AFP via Getty Images