Iraq: As Oil Prices Fall, How Will Iraq Pay the Bills?

Mar 4, 2020 | Agence France-Presse
View Original

As crude prices plunge, Iraq's oil sector is facing a triple threat that has slashed revenues, risks denting production, and may spell trouble for future exports. With global oil prices falling to around $25 per barrel, Iraq faces a significant challenge as oil is the country's only major industry. The price crash means Iraq's monthly crude revenues were slashed by nearly half from February to just $2.99 billion in March.