Oil is trying 50 USD level for per barrel after the expectations that Iraq should be exempted from planned production cuts. After preparing OPEC General Secretary’s Baghdad visit on Tuesday, the oil is trading around the 50 USD level on the market. Oil futures contracts in New York fell 0.2 percent after falling 0.7 percent on Monday. OPEC General Secretary Mohammed Barkindo will hold a meeting with Iran Prime Minister and Oil Minister about the exemption of Iraq about the planned production cuts because of conflict conditions in the region. A special committee that will generate by OPEC will work to resolve disputes between OPEC members about the oil production limitations on the market.

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