Oil prices closed down Tuesday with traders still skeptical about whether OPEC makes the production cuts members in late September promised that they would consider. Light, sweet crude for December delivery settled down 56 cents, or 1.1%, at $49.96 a barrel on the New York Mercantile Exchange. Brent, the global benchmark, fell 67 cents, or 1.3%, to $50.79 a barrel on ICE Futures Europe. In September, the Organization of the Petroleum Exporting Countries reached an understanding that there was a need to scale back production, which has helped keep the market above $50 for most of October. OPEC members will wait until the next official meeting in November to complete the details, including the quota for individual producers. But many are still skeptical about whether they can make a deal work. The latest question surrounds Iraq’s refusal to accept production data from secondary sources as the basis to calculate […]