Investing.com -- Energy Secretary Chris Wright said Friday that U.S. refiners have capacity to process additional Venezuelan crude oil. Wright made the comments during an event at Port Houston.

Venezuela currently sends approximately half of its 1.2 million barrels per day of total exports to the U.S., Wright said. He added that this percentage could grow in the months ahead.

Wright also stated that Iran is not exporting any oil or petroleum products at present. The U.S. has increased its oil exports to help fill the gap left by Iran amid the ongoing Middle East conflict, Wright said.