After creating a primary challenge of this key 51.70 immunity level, Crude Oil prices have turned to exchange reduced within the week. Reports fueled the disadvantage that Iraq is currently looking for exemption. Iraq advised OPEC officials it was prepared in agreeing to improve petroleum prices to collaborate as long since it might maintain output near present levels. Elsewhere oil demand has witnessed continuous growth despite the increase in ingestion. The IEA noted that global petroleum demand is predicted to grow from 1.2mio barrels every day in 2017. Nonetheless, in remarks, the executive manager Faith Birol of the IEA stated if costs continue to grow that oil demand growth could weaken.