About half of Venezuela oil output now goes to US, Under Secretary Haustveit says

HOUSTON, Aug. 18 (Reuters) - U.S. Energy Under Secretary Kyle Haustveit said on Tuesday that about half of Venezuela's oil output is now being exported to the U.S.

"In the last couple of months, we're seeing north of 500,000 barrels of approximately half of the production coming out of Venezuela is coming to the United States to the refineries that were built specifically for that crude," he said at an event in Houston, adding that the country is currently producing around 1.25 million barrels a day.

Haustveit highlighted progress in the country and said sanctity of contracts would be respected.