UPDATE 8-Oil edges higher ahead of G20, OPEC meeting

* Iraq says OPEC set for roll over, may discuss deeper curb
* Investors await G20, OPEC meeting
* Alberta eases oil production curtailments for August

(Updates with settlement prices, adds market activity,
commentary)
By Stephanie Kelly
NEW YORK, June 27 (Reuters) - Oil prices edged higher on
Thursday on expectations that OPEC will extend an output cut
agreement, while investors awaited a meeting between the United
States and China that could produce a breakthrough on trade
talks.
Brent crude LCOc1 futures rose 6 cents to settle at $66.55
a barrel. U.S. West Texas Intermediate (WTI) crude CLc1
futures rose 5 cents to settle at $59.43 a barrel.
The Organization of the Petroleum Exporting Countries is
expected to roll over a deal on cutting supplies at a meeting
next week and discuss deepening the curbs, Iraq's oil minister
said. Sources told Reuters this month that Algeria had floated an
idea of deepening the cut by some 600,000 barrels per day.
A deal between OPEC and its allies, including Russia to curb
output by 1.2 million bpd, runs out at the end of June. Meetings
on July 1-2 in Vienna will discuss the next steps.
The OPEC meeting will follow the G20 summit this weekend.
"If we don't see OPEC extend its production agreement and
the U.S. and China leave the G20 with more problems, this rally
up to one-month highs could stop," said Gene McGillian, vice
president of market research at Tradition Energy in Stamford,
Connecticut.
U.S. President Donald Trump said on Wednesday a trade deal
with Chinese President Xi Jinping was possible this weekend but
he is prepared to impose U.S. tariffs on most remaining Chinese
imports if the two countries don't agree. "It's clear that investors are a little cautious when it
comes to this meeting, given how talks collapsed previously and
the fighting talk we've since seen from both sides," said Craig
Erlam, analyst at OANDA.
Tensions between the United States and Iran have also kept
the market on edge. Iran is on course to breach a threshold in
its nuclear agreement within days by accumulating more enriched
uranium than permitted, although it had not done so yet by a
deadline it set for Thursday, diplomats said, citing U.N.
inspectors' data. When asked about Iran possibly breaching those restrictions,
U.S. Special Representative on Iran Brian Hook said it was clear
there would be consequences. Elsewhere, the government of Canada's main crude-producing
province, Alberta, eased crude oil production curtailments for
August on Thursday, setting the limit at 3.74 million bpd,
compared with 3.71 million bpd in July. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
TECHNICALS-U.S. oil may fall into $56.84-$58.19 range
L4N23Y0D3
TECHNICALS-Brent oil may fall to $64.78 crude inventories, weekly changes since 2017 https://tmsnrt.rs/2XlX17b
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