Article: “Parliamentary Economy: Iraq has a golden opportunity to increase its oil production” Last week, I was expecting a particular bit of news out of Iraq, based on conversations with my personal contacts. This isn’t earth-shattering news, on the surface…it’s very positive for us. I’ve been talking about how the current OPEC agreement is a huge “ace in the hole” for Iraq. That article above is the biggest “bat signal” imaginable! I’ll spell it out real quick – OPEC (The Organization of the Petroleum Exporting Countries is an intergovernmental organization of 14 nations, founded in 1960 in Baghdad by the first five members, and headquartered since 1965 in Vienna, Austria. Wikipedia) currently has an understanding / agreement to limit production.
Iraq is not specifically included or excluded from it, despite the founding information you can see above, and they are in prime position (GOLDEN OPPORTUNITY) to monetize their place in the deal. I don’t know what else I can say about it…Iraq is in the best place we could hope for. Ramadan is nearing its end, we are looking at a live fuse attached to a financial firework, and I won’t be surprised if they light the fuse before 4th of July. Not that Iraq cares about the 4th of July… that date just happens to mesh with the “live fuse” metaphor, and the timing is right…I’m excited to be on this side of the microphone as things go down!