Reuters | Iraq's oil contracts make joining OPEC output cut more painful Reuters OPEC member Iraq pays developers a fixed dollar-denominated fee for every barrel of oil produced in the south of the country - home to its biggest reserves - under technical service contracts agreed between the international firms and the state-owned ... Oil stumbles on dollar strength, lack of faith in OPEC output deal US crude loses steam after rising on OPEC deal hope, settles down Excess North Sea oil seen as capping price ahead of Opec meeting |