CNBC | Oil bounces back as Iraq signals support for OPEC output cut CNBC "What we lose in lowering production we will gain in oil revenues," he said. "Our priority is to raise the price of a barrel of crude." Abadi's comments are the clearest indication so far that Baghdad will support an OPEC plan to cut production by 4 ... Oil prices ease on doubts OPEC-led cut will end glut Oil Prices Capped by Doubts Over Production Cut |