Baghdad has received a much-needed boost from the rebound in Brent to over $60/B.

The Iraqi government took in $5.45bn in crude export revenues in October, the highest level since October 2014, when oil prices were only just beginning their slump from $100/B.

Revenues crashed with the price of oil late 2014, a situation exacerbated by war with IS and chronic disputes with the Erbil-based Kurdistan Regional Government (KRG). Federally controlled exports of Kirkuk from the Turkish...