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    Iraq wants to exempt from OPEC oil output freeze

    Oil prices falls followed comments from Iraq

    Baku. 24 October. REPORT.AZ/ Iraq has stated that it doesn't want to freeze oil production.

    Report informs citing the RIA Novosti, Falah al-Amiri, head of Iraq's State Oil Marketing Company SOMO, and Oil Minister Jabar Ali al-Luaibi have said.

    al-Amiri said that Iraq doesn't plan to reduce daily volume of 4.7 mln barrel of current oil production. He noted that oil production volume is a guarantee of the country's independence.

    Oil Minister J.Ali al-Luaibi asked oil countries and the OPEC allow Iraq not to participate in the metings regarding freeze or reduction of oil production, stating the state is fighting against the Daesh. According to him, Iraq should get the same exemption as Nigeria and Libya. Also, he added that Iraq doesn't want to create tension and plans to deliver its proposal to the OPEC in a positive manner.

    Notably, next official meeting of the OPEC is scheduled for November 30 in Vienna (Austria). Informal meetings are held among the world's major oil producers until the official meeting. Determination of oil production quotas for each country is being discussed in the meetings.

    Statements from Iraq has led to decline in oil prices since this morning. Thus, price for Brent crude decreased by 0.4% and made 51.67 USD/barrel. The analytical group of Report News Agency forecasts that oil prices will drop below 50 USD-barrel this week. 

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