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Oil prices fall on rising Iraq output, doubt over producer talk prospects

A pumpjack drills for oil in the Monterey Shale, California, April 29, 2013.

Oil prices fell early on Monday as output from Iraq rose and as Iran said it would only cooperate in upcoming producer talks to freeze output if fellow exporters recognized its right to fully regain market share.

International Brent crude oil futures LCOc1 were trading at $49.54 per barrel at 0043 GMT (8.43 p.m. ET), down 38 cents from their previous close.

U.S. West Texas Intermediate (WTI) crude futures were down 43 cents at $47.21 a...


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