From Gulf News.
… if oil prices drop further Iraq may not benefit from any increase in production as that may not be sufficient to pay the IOCs. Something has to give and a substantial review of the policy is in order, especially in discarding the views that still call for a production target of 9mbd by 2020. No wonder the Economist said that “the inflated costs that producing a barrel of Iraqi oil costs twice as much as in Saudi Arabia” and probably more.
