Oil down as Iraq says no cuts; Wall St, Cushing draw limit loss

By Ethan Lou NEW YORK (Reuters) - Oil prices fell on Monday after Iraq said it wanted to be exempt from an OPEC production cut, though prices drew some support from a rally in Wall Street shares and a draw in crude inventories at the U.S. storage hub of Cushing, Oklahoma. The Organization of the Petroleum Exporting Countries (OPEC) announced plans last month to cut output to boost prices, but has not yet given details on how it will reach the target. Iraqi oil minister Jabar Ali al-Luaibi said o