Iraq wants expemtpion from production cut

Iraq has asked for an exemption from production cuts should OPEC reach a deal next m onth in Vienna.

As per Reuters report, Iraq’s oil minister Jabar al-Luaibi told reporters, "We are fighting a vicious war against IS”. He added further, “we should be producing 9 million if it wasn't for the wars and some countries have taken our market share”.

Iraq’s call for an exemption has dampened prospects of an OPEC deal.