Violence puts Iraq oil targets at risk

Now Reading:

Violence puts Iraq oil targets at risk

Text size Aa Aa

Iraq’s oil growth targets look increasingly at risk because of growing threats to supplies from political instability and violence according to the International Energy Agency.

The warning comes as demand improves due to a stronger global economy.

Iraq is the second-largest producer in OPEC and its northern exports have been offline since March.

OPEC’s output has also been hit by unrest in Libya, sanctions on Iran and oil theft in Nigeria.

Oil prices jumped to almost 115 dollars a barrel last week, the highest level since September, as violence spread in Iraq.