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Iraq's New Oil Law May Affect World Markets

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Iraq's New Oil Law May Affect World Markets

Iraq

Iraq's New Oil Law May Affect World Markets

Iraq's New Oil Law May Affect World Markets

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  • <iframe src="https://www.npr.org/player/embed/7626831/7626832" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

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.