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Oil has slid to LOD following headlines that just one week before the Vienna deal, one which according to the Nigerian oil minister was supposed to be finalized today, more discord has emerged, as a result of Iran, Iraq and Indonesia expressing "reservations" about the proposed 4.5% output cut which exempts only LIbya and Nigeria.It also means that contrary to constant media representations, Iran was in fact not to be exempt from a production cut, and suggesting that there was never a real agreement to begin with.
- OPEC EXPERTS RECOMMEND MINISTERS DEBATE NEXT WEEK AN OIL OUTPUT CUT OF 4.0-4.5 PCT FOR EACH MEMBER EXCEPT LIBYA, NIGERIA - RTRS
- OPEC SOURCES SAY IRAN, IRAQ, INDONESIA HAVE RESERVATIONS REGARDING PROPOSED 4.5 PCT CUT
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After the last few days melt-up in WTI because "an OPEC deal is certain," it seems Iraq is ready to spoil the party once again. Sending WTI (Jan17) tumbling from over $49 to a $47 handle, Reuters reports, Iraqi Foreign Minister Ibrahim al-Jafari told reporters, "it would not be fair for us to cut oil output."
OPEC should allow Iraq to continue raising output with no restrictions, Foreign Minister Ibrahim al-Jafari told reporters in Budapest on Tuesday, commenting on a plan by the organization to limit supply in order to support prices.
"We think we should increase output. Iraq is in a special situation ...we are at war," he said, referring to the ongoing military campaign to defeat Islamic State.
And the reaction is a pullback in WTI's panic bid...


"At sea, a frightening number of refugees and migrants are dying each year. On land, people fleeing war are finding their way blocked by closed borders." -- UN High Commissioner for Refugees Filippo GrandiIt is the first time in the organization's history that the threshold of 60 million has been crossed.
Hizb ut-Tahrir is deeply rooted in the Syrian revolution and it is constantly coordinating with key figures, whether it's from the quote-unquote radical Islamic movement in terms of providing them advisory [sic] or with the quote-unquote more moderate movement in certain terms of warning them not to fall into neoliberal plots and so forth. [HuT's] role has been to orient the revolution ...It's an interesting discussion, worth watching. They say that HuT maintains the "purity" of the revolution in Syria, subverting the U.S.'s aims of installing "moderate" groups in power and marginalizing the "radical Islamists" who are attempting to "uproot the political structures/neolib politics", i.e., "excluding Islam". So ironically, the very "moderate" groups we hear about in the news (e.g., Ahrar al-Sham, Noureddin al-Zenki, etc.) are ideologically opposed to those who could even remotely be considered "moderate", and actually disdain the U.S.'s alleged plans for Syria. It's kind of funny how much these guys resemble the neoliberal ideologues and social justice warriors in their apparent naivete about what exactly they are supporting with their respective "revolutions"...
Comment: Israel is the organ harvesting and human trafficking global ringleader, with complicit help from US and Turkey