Sources pointed out that day, the organization of Petroleum Exporting Countries (OPEC) member of the bay area this week that will peak oil production by 4%. Boosted by the news, international oil prices rose.

The first three trading days, the Iraqi oil minister says, international oil prices fell sharply. Iraqi oil minister said 23, Iraq hopes to get exemption in OPEC production cuts, because the country needs more funds to combat extremist organization Islamic state”.

OPEC members last month have reached an agreement to cut output, will be 33 million 240 thousand barrels per day oil production fell to 32 million 500 thousand barrels, the production quantity of each member state will decide in November the official OPEC meeting.