Oil is slipping

Oil is dipping on Monday morning after Iraq signaled it does not want to take part in an OPEC production cut deal.

Both Brent and West Texas Intermediate (the US measure) are down as of 8.15 a.m. BST (3.15 a.m. ET). Here is how Brent looks:

brent

Investing.comAs you can see, Brent has pared its earlier losses and is staging a mini-comeback in early London trade but is still down on the day.

Here is how US crude looks at the same time — a steeper fall:

crude

Investing.comOil is down after Iraq said it is seeking an exemption from the planned OPEC oil production cut, a move that market watchers fear could scupper the whole deal.

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See Also:

• Oil's tumbling following reports that Iraq and Iran refuse to freeze output

• RBC: Saudi Arabia must lead by example if OPEC's production cut is to stick

• Oil is spiking

SEE ALSO: OPEC may not be cutting crude oil production after all