Iraq’s Solution To Lower For Longer Oil Prices

OPEC’s second-largest oil producer, Iraq, has never hidden the
fact that it wants to get the highest possible revenues from its
oil. It even pleaded exemption from the cartel’s cuts in the talks
leading to the production reduction deal, on the grounds that it
needed more funds to fight ISIS. Iraq didn’t get that exemption,
but it is now considering a change in the way it prices its oil
exports to the most prized market for the Middle Eastern
producers—Asia—in an effort to increase its oil revenues. Iraq’s
state…

OPEC’s second-largest oil producer, Iraq, has never hidden the
fact that it wants to get the highest possible revenues from its
oil. It even pleaded exemption from the cartel’s cuts in the talks
leading to the production reduction deal, on the grounds that it
needed more funds to fight ISIS. Iraq didn’t get that exemption,
but it is now considering a change in the way it prices its oil
exports to the most prized market for the Middle Eastern
producers—Asia—in an effort to increase its oil revenues. Iraq’s
state…