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Published 1 month ago

Iraq’s overreliance on oil threatens economic, political strife

Summary by Ground News
Iraq has long faced a tough balancing act between the short-term gains that can come from ramping up production and the long-term problems that can arise from overproduction. The budget is set by the oil price. If the price drops, they produce more. The Iraqi government relies on oil for more than 90 percent of its revenue.

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Al JazeeraAl Jazeera

Iraq’s overreliance on oil threatens economic, political strife

More than 90 percent of Iraq’s government revenue comes from oil, leaving the country hostage to global prices.

1 month ago·Qatar
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