UPDATE 1-Iran, Venezuela may complicate global oil deal talks – Kazakhstan

Talks between OPEC and its allies next month about whether to extend their pact on cutting oil supplies “won’t be easy” and may be complicated by the situation facing Iran and Venezuela, Kazakh Energy Minister Kanat Bozumbayev said. The Organization of the Petroleum Exporting Countries and other large oil producers, including Russia and Kazakhstan, meet in Vienna on July 1-2 to discuss whether the oil output deal, which expires after June 30, should be continued. Kazakhstan wanted the deal extended into the second half of the year, he said, describing the oil price in a range of $60-$70 per barrel as “suitable”.

Source: Yahoo.com