IRAQ

Baghdad, KRG Take First Step Toward Deal

Iraq’s Oil Ministry and the Kurdistan Regional Government (KRG) struck a deal on 13 November after Baghdad agreed to release $500mn of federal funds to the cash-strapped Kurdish region in an apparent gesture of goodwill to pave the way for a more comprehensive agreement on oil sales. In return, the KRG has agreed to put 150,000 b/d of its crude oil production at the federal government’s disposal, a shift in policy that might prove...