Oil & Gas | National Investor Network

Iranian and Venezuelan Sanctions Complicate Global Oil Deal Talks

Written by Jennifer Delay Iacullo | Jun 27, 2019 10:28:45 PM

"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."

Yahoo News

Iran and Venezuela both face U.S. sanctions.

"Will they want to (extend) or not? It's hard (to say)," Kazakh Energy Minister Kanat Bozumbayev said.

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."