Oil prices fall on rising Iraq output, doubt over producer talks

Oil prices fell about 1 percent on Monday as Iraq's production rose and as Iran said it would only cooperate in producer talks to freeze output if fellow exporters recognized its right to fully regain market share. International Brent crude oil futures were trading at $49.32 per barrel at 0558 GMT, down 60 cents, or 1.2 percent, from their previous close. U.S. West Texas Intermediate (WTI) crude futures were down 66 cents, or 1.39 percent, at $46.98 a barrel.