ENERGY

OPEC Raises Oil Ceiling for Iraq’s Return: The cartel, meeting in Vienna, raised its production ceiling to make room for Iraq’s imminent return to oil markets but failed to curb output by members who are exceeding their limits. OPEC said it will accommodate Iraq by raising the cartel’s ceiling to 25.033 million barrels of oil a day and eliminating from its roster--but not oil markets--the oil pumped by Gabon, which is quitting the cartel. Traders had a lackluster response, with oil futures fluctuating by just a few pennies a barrel on the London and New York markets. But experts suggest the price outlook will be bleak when Iraq starts selling an estimated 800,000 barrels of crude a day.