Both Iraq and Iran seek exemptions to Saudi-backed output cuts Pair wields clout producing almost a quarter of OPEC supply Saudi Arabia’s dominance of OPEC isn’t what it once was. Iraq and Iran, shaking off shackles of sanctions and war, have raised oil output to record highs and are asserting themselves within the Organization of Petroleum Exporting Countries. Together they produce more than 8 million barrels of oil a day, nearly a quarter of the oil pumped by the group, and both want to boost their output further. The ambitions of OPEC’s second- and third-largest producers are the main obstacle to the Saudi-backed effort to trim the group’s output and buoy prices. Even if members reach a deal next week and accept production quotas, the reluctance of Iraq and Iran to cut output bodes poorly for their long-term cooperation with the kingdom — and for stability in global oil […]