While violence has taken Iraq's northern oil sector almost entirely offline, growing production and export capacity in the south is keeping Iraq afloat.
Production & Exports
An Iranian ban on Kurdish crude and fuel exports eliminates a major route for companies to monetize production and threatens to further reduce KRG revenues.
The integration of Kirkuk oil fields into Kurdistan's pipeline network promises to escalate tensions with Baghdad and raise difficult questions over how to manage oil flows and revenue.
Preliminary data show June exports were down after two months of consecutive growth, despite increased crude supply.