Finance

Falling oil prices may be misreading a tenuous situation in Iraq

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Boys run past burning tires set up by Iraqi protesters during ongoing anti-government protests in Najaf, Iraq, November 26.

Alaa al-Marjani | Reuters

The resignation of Iraq’s prime minister helped trigger a drop in oil prices, but analysts say that may not be the right response by investors, as Iraq’s future may have just become even more uncertain.

Iraq is the second-largest oil producer in OPEC, with output nearing 5 million barrels a day, and analysts had said that anti-government protests in the country could ultimately impact oil exports if they continued.

Prime Minister Adel Abdul-Mahdi announced his resignation Friday after the country’s top cleric criticized the government following…



Source cnbc.com

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