With just one month left until the OPEC Vienna meeting in which by some miracle, the cartel of oil producing countries, as well as non-OPEC countries are expected to agree on production cut quotas, things are not looking good. The latest complication emerged on Sunday when Iraq, which one month ago tipped its hand that it would not comply by the Algiers agreement, said it would maintain oil production at current levels after exceeding 4.7 million barrels a day in September, even as other OPEC members discuss limits on output.
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