Iraq: Oil Production Surges But Problems Persist

Iraq’s surging oil production may soon exceed that of Iran—the world’s fifth largest oil producer in 2011—and help avoid global oil supply disruptions in the event of a future crisis in the Persian Gulf region. But Iraq’s domestic problems persist, including political infighting, infrastructure deficiencies, revenue allocation disputes and security shortfalls, all of which might sabotage the country’s export aspirations and reverse the current positive trend.

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