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Sunday

How Iraq's Booming Oil Trade Affects the Dinar

By Dan Carlson

Iraq is continuing to show how focused they are on their oil trade. Huge amounts of foreign investments are coming into support Iraq's oil trade. By 2011, Iraq is planning to increase its oil exports from 2.6 million barrels per day to 3.6 million barrels per day. The biggest challenge Iraq faces is to quickly build the infrastructure necessary to support the increased productivity. A good problem to have. The great demand for infrastructure and security will increase the number of jobs created. Iraq reported a 15% unemployment rate, but its oil industry is looking to significantly reduce that rate.

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