Iraq: The World’s Fourth-Biggest Oil Producer Can’t Keep the Lights on

Oct 22, 2018 | Mohammed Sergie, Bloomberg
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Iraq is fast becoming a global oil powerhouse, gaining stature in OPEC after it surpassed Canada this year as the world’s fourth-biggest producer. But the war-ravaged country has little to show for its feat. While crude markets are preoccupied with Saudi Arabia’s ability to boost output as impending U.S. sanctions curb Iranian exports, Iraq has quietly increased shipments to Asia, Europe and the Mediterranean region to offset Iran’s missing barrels.