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Oil prices fall as Iraq refuses joining output cut

Xinhua, October 25, 2016 Adjust font size:

Oil prices declined on Monday after Iraq said it wanted to be exempt from a joint production cut.

The West Texas Intermediate for December delivery dropped 0.33 U.S. dollars to settle at 50.52 U.S. dollars a barrel on the New York Mercantile Exchange, while Brent crude for December delivery erased 0.32 U.S. dollars to close at 51.46 dollars a barrel on the London ICE Futures Exchange. Enditem