Energy Update

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* Venezuela warns of more downside when outages ease

(Releads with source saying Gulf OPEC members seek joint
action)

* Tehran seeking to reduce dependence on dollar

(Adds quotes, details)

VIENNA, May 31 (Reuters) - A Nigerian oil technocrat has
emerged as frontrunner to take the top job at OPEC, with members
seeing Mohammed Barkindo as what would be a rare compromise
candidate to lead the group amid rising tensions between Saudi
Arabia and Iran.

AMMAN, June 1 (Reuters) - Jordanian King Abdullah swore in a
new government led by a business-friendly politician on
Wednesday, charging him with preparing for parliamentary
elections by September and pushing legislation to spur sluggish
growth.

VIENNA, June 1 (Reuters) - Gulf OPEC countries are seeking
coordinated action by the producer group to help stabilise oil
markets, a senior OPEC source told Reuters.

VIENNA, June 1 (Reuters) - Iran said on Wednesday it would
not commit to any oil-production action with fellow OPEC members
when the group meets this week despite being close to
pre-sanctions output and export levels.

SINGAPORE, June 1 (Reuters) - China could approve more crude
import quotas for independent refiners that will bring the total
volume to close to 2 million barrels per day (bpd) by the end of
2016, an industry official said on Wednesday.

ISTANBUL, June 1 (Reuters) - Indian oil refiners will clear
around 6 billion euros ($6.7 bln) of outstanding debt to Iran
through Turkey's Halkbank within a short period, a
senior Iranian economy official said on Wednesday.

SINGAPORE, June 1 (Reuters) - Iran has deferred at least one
of its fuel oil loadings for June to Asia, according to a trade
source with direct knowledge of the matter.

VIENNA, June 1 (Reuters) - Venezuelan energy minister
Eulogio Del Pino said on Wednesday OPEC has a de facto oil
output freeze as its overall production stood steady in the past
few months.

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