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Iraq Doesn't Want to Participate in OPEC's Production Cuts

Iraq doesn't want to participate in OPEC's proposed oil production cuts.

Iraq doesn't want to take part in OPEC's proposed oil production cuts. Iraq's oil minister says its output has been scaled back by decades of wars. In September, Iraq produced roughly 4.7 million barrels a day and said if it weren't for wars, the country's output should stand at 9 million barrels per day. OPEC is aiming to reduce production to a range of 32.5 million barrels per day and 33 million barrels per day. Details of these cuts are expected to be announced at OPEC's November meeting. TheStreet's Scott Gamm reports from Wall Street.

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