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2016-12-02 18:45:00

IRAQ'S OIL BENEFITS

IRAQ'S OIL BENEFITS

PE wrote, the government of Iraq is hoping that a new OPEC deal will help the war-weary country generate enough revenue to help pay for its costly, 2-year-old fight against the Islamic State group.

Iraq, whose oil revenues make up nearly 95 percent of its budget, has been reeling under an economic crisis since late 2014, when oil prices began their descent from a high of above $100 a barrel.

The plunge began just months after IS militants swept across large parts of…

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Tags: IRAQ, OPEC, OIL, PRICES, PRODUCTION
Chronicle:
IRAQ'S OIL BENEFITS
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