Iran and Russia and other oil producing countries have agreed to freeze production of crude oil

Previously, because of Saudi Arabia, Iran and Russia and other oil producing countries have agreed to freeze production of crude oil, international oil prices rose sharply, the highest WTI value of 51.02 U.S. dollars / barrel, Brent is the highest value of 51.89 U.S. dollars / barrel.
However, in October 24th Luibi said that Iraq should be exempt from OPEC protocol for limiting the production of crude oil, the country needs funds to fight against Islamic state militants.
Iraq is OPEC important oil producing countries, crude oil reserves ranked fourth in the world, second only to Venezuela, Saudi Arabia and Iran. Luibi said that in September the crude oil production of 4 million 774 thousand barrels per day, is expected to continue to rise in October, Iraq will not to OPEC, nor any person in order to freeze production of crude oil.
25, OPEC Secretary General Barkin said that in the member nations to cut oil production to promote the market balance, this is composed of 14 members of the organization is facing the most serious challenge.

The American Petroleum Institute data released after Russia joined the opposition and freeze production ranks so that international oil prices fell.
The oil experts, after the end of September OPEC unexpectedly reached the first eight years of production cuts, the organization needs to allocate production quotas for each country. Iraq is the fourth country to seek exemption from production, the first three countries such as Iran, Nigeria and Libya. OPEC is trying to convince Russia and other non OPEC oil producers have joined the ranks of production.
Iran and Iraq are OPEC important oil producing countries, if they can not freeze production, even production, OPEC production agreement may freeze abortion.” He said.
According to him, the U.S. shale oil production cost is about $55 a barrel, at present a lot of shale oil enterprises are actively preparing to return at any time, the international crude oil market, by the end of 2014, led by Saudi Arabia OPEC the reason why crude oil price war, it is hoped that the shale oil enterprise bankruptcy, now look at the target of OPEC may have failed.”
He believes that the future of OPEC OPEC and the United States and Russia and other non oil shale companies will likely have a long time process for oil prices, in order to achieve acceptable price in Chengdu.