OPEC committee gathers Friday as Iraq says it should be exempt Brazil to join other non-OPEC producers at meeting on Saturday U.S. oil is set for the first weekly drop since mid-September as an OPEC committee meets in Vienna on Friday to discuss output quotas for members participating in an agreement to cut production. Futures slid as much as 0.6 percent in New York and are down 2.7 percent for the week. Brazil will attend the Organization of Petroleum Exporting Countries gathering Saturday, joining other producers from outside the group, including Russia, as the bloc that controls about 40 percent of world production seeks non-member cooperation on reducing output. Saudi Arabia and its Gulf allies are willing to cut 4 percent from their peak production, Reuters reported, citing people familiar with the matter. Oil has fluctuated near $50 a barrel amid uncertainty about whether OPEC can implement the first […]