Iraq’s bounty risks bitter taste
After US-led mission helped to largely banish Islamic State from Iraq in 2018, the country has fast become a battleground for power in the region
Growing oil production should be a major win for oil-weary Iraq. But the country's increasingly lucrative share of global crude output has served to sharpen the appetites of Iran, the US, and other Middle Eastern neighbours to keep or extend a foothold in Iraq, seeing potential both for further oil production increments and strategic importance in a territory that has long borders with Iran, Saudi Arabia, Syria and Turkey. Iraq has long been in an uncomfortable position straddling the diplomatic divide between the US and Iran. With tensions at their highest in years, how Iraq’s position stuck between the two opposing powers plays out in the coming months could have an impact even beyond its
Also in this section
17 July 2025
US downstream sector in key state feels the pain of high costs, an environmental squeeze and the effects of broader market trends
16 July 2025
Crude quality issues are an often understated risk to energy security, highlighted by problems at a key US refinery
15 July 2025
Government consultations on the windfall tax and the exploration licence ban are positive steps, but it is unclear how long it will take for them to yield tangible outcomes
15 July 2025
A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
