Iraq's New Oil Law May Affect World Markets

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The new oil law that Iraq's cabinet approved Monday is politically significant, says that oil revenue will be shared among the provinces or regions based on population. That was a key concern for Sunnis. But the legislation would also have big implications for oil companies around the world.

Michele Norris talks with Saad Rahim, an analyst for PFC Energy, a consulting firm that does business with major oil companies.



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