Iraq's production has come under pressure as Sunni insurgents target its northern pipeline, while technical problems curb output in the south.
Geopolitical risks were in focus after Israeli Prime Minister Benjamin Netanyahu said Iranian president-elect Hassan Rouhani had shown his true face after Iran's student news agency ISNA quoted him as saying Israel was a "wound" that must be removed.
Iranian state media said unidentified news agencies had distorted Rouhani's remarks. State owned Press TV broadcast footage that showed Rouhani saying a "wound" had been inflicted on the Muslim world by the Israeli occupation of Palestinian land, but made no reference to the "Zionist regime" or the removal of Israel. ISNA later retracted the report.