Iraq Escalates Internal OPEC Scrap
Oil tankers dock at a floating platform on Sept. 21, 2014, offshore from the southern Iraqi port city of Al Faw, 90 kilometres south of Basra.
Photographer: Haidar Mohammed Ali/AFP via Getty ImagesThis article is for subscribers only.
The battle for customers among OPEC members that helped trigger oil’s collapse is about to escalate.
Iraqi crude production is climbing from a 35-year high as it adds growing Kurdish supplies to its exports, while southern oilfields remain unscathed by Islamic State militants. Finding buyers for the new output means offering more attractive terms than rivals in the Organization of Petroleum Exporting Countries, say Citigroup Inc., DNB ASA and Barclays Plc.