1.   America wants to help its ally, Saudi Arabia, which would suffer from Iraqi exports either through lower prices or through lost market share, and probably both.

2.   And some refiners may cut purchases in anticipation that a resumption of Iraqi exports would bring cheaper prices.

3.   A resumption of Iraqi exports would come just as oil production from members of the Organization of Petroleum Exporting Countries rises.

4.   A resumption of Iraqi exports would represents the third in a series of sales programs that began last December.

5.   A U.N. resolution in May allowed Iraqi exports, which had been halted following the Persian Gulf war, to resume soon.

6.   A U.N. spokesman today said Secretary-General Boutros Boutros-Ghali may tell the Security Council as early as next month that Iraqi exports may flow.

7.   After the close of trading, the United Nations announced the approval of the first of two contracts for the resumption of Iraqi exports.

8.   But that has been nullified by the ban on Iraqi exports, especially oil.

9.   Canadian oil and gas companies fell as crude oil futures hovered near two-year lows, reflecting reduced Asian demand and the resumption of Iraqi exports.

10.   Crude oil could fall to its lowest price of the year after the return of Iraqi exports, possibly within the next two weeks, traders and analysts said.