Iraq: Economy

IQ

US officials studied Iraq's oil revenue system for potential use in Venezuela

During the Trump administration, officials looked at how the US controls Iraq's oil revenue as a potential model for Venezuela. The system in Iraq, which has been in place for years, involves managing the country's oil income through a special fund. This approach was considered as a way to potentially get Venezuela's oil flowing again if there was a change in leadership away from President Nicolás Maduro.

IQ

Iraq reports high oil exports and plans to take over a major oilfield

Iraq's oil exports have averaged 3.6 million barrels per day since the start of January. Separately, the Iraqi government has announced plans to nationalize the operations of the West Qurna 2 oilfield.