New York — Oil prices fell on Monday after Iraq said it wanted to be exempt from production cut by the Organization of the Petroleum Exporting Countries (Opec), though prices drew some support from a rally in Wall Street shares and a draw in crude inventories at the US storage hub of Cushing, Oklahoma. Opec announced plans last month to cut output to boost prices, but has not yet given details on how it will reach the target. Members meet in Vienna on November 30. Iraqi oil minister Jabar Ali al-Luaibi said on Sunday the country, second largest producer in Opec, wanted to be exempt from output curbs as it needed more money to fight Islamic State militants. "This just casts one more spotlight onto potential uncertainty ahead of this meeting," said Matt Smith, director of commodity research at energy data provider ClipperData. Brent, the international benchmark for crude, was down 60 cents at $51.18 a barrel by 3.53pm GMT. US West Texas Intermediate (WTI) crude was down 62 cents at $5...
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