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Oil trades above $46 as Iraq pledges to cooperate on output deal

Oil traded above $46 a barrel in New York as Iraq pledged to cooperate with OPEC to reach an agreement this week that is acceptable to all members. Futures rose as much as 1.5 percent, reversing an earlier decline. Iraq’s Oil Minister Jabbar al-Luaibi is optimistic a deal will be reached, he said Monday in Vienna. …

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