Defying the threat from Islamic State militants, Iraq has been ramping up exports from both the Shiite south – where companies like BP Plc and Royal Dutch Shell Plc operate – and the Kurdish region in the north.
Contenders in the battle for oil market share include Russian oil companies, Brazil’s state-run Petrobras and oil fields in China and Southeast Asia, which have all pumped thousands of barrels into a global crude glut.
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