Article: “Iraq’s State Oil Marketing Organization (SOMO) announced…it has concluded all contracts and obligations with buyers of oil produced in the Kurdistan Region” We see here that some of the issue surrounding the HCL are only now being resolved. There are other issues yet to be negotiated. Iraq is ramping up production though oil prices are stable and/or falling periodically. The budget is designed around a $40 per barrel price so the price of $70 dollar per barrel is of no major concern.
