Iraq intends to cut for exemption

It is reported that Iraq’s oil minister said on October 23rd, Iraq in the hope of the organization of Petroleum Exporting Countries (OPEC) exempt production agreement, because the country needs more income to combat extremist organization Islamic state”.

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Analysts pointed out that, as OPEC’s second largest oil exporter, Iraq this statement so that oil prices downward pressure. As of 24 closing, the New York Mercantile Exchange in December delivery of light crude oil futures prices fell $0.33, to close at $50.52 a barrel, down 0.65%. December delivery of London Brent crude oil futures prices fell $0.32, to close at $51.45 a barrel, down 062%.

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