Analysis: Iraq, the world’s new oil powerhouse?

For decades, Iraq was a second-tier producer in the OPEC cartel it helped to found. Despite having the world's third-largest conventional oil reserves, production was uneven at best, as the oil sector suffered from war, sanctions, and mismanagement.Now, however, as Iraq continues to celebrate ongoing oil production increases, the world is watching closely.Global oil demand is rising, and the health of the international economy hinges on energy prices. Yet supplies are uncertain, even wi...