01.07.2014 - Iraq and the oil market: How much will prices rise?
It stands to reason that one of the effects of the turmoil in Iraq will be a change in oil prices. Indeed, the violence in OPEC’s second-largest producer has already sent oil prices to 10-month highs. A recent report from the International Energy Agency (IEA) put it well: “While Iraq’s production is huge, so are the political hurdles it is facing — and nothing provides a clearer example of that risk than the military campaign.” Yet this is no time to panic. For one, Iraq is not the only dark cloud hovering over the world oil market...............................................Full Article: Source
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