OPEC’s No.2 Suffers From Saudi-Russian Oil Price War

OPEC’s second-largest producer, Iraq, has been grappling with street protests for months and the coronavirus outbreak for a few weeks, and now it faces another tough ­test for its finances—the oil price crash will likely force heavily-oil-dependent Iraq to suspend new infrastructure and energy projects. The OPEC producer may also have to resort to international borrowing to make sure it can pay salaries to public servants after oil prices collapsed to half the price Baghdad had planned to budget this year, Iraqi lawmakers and officials…