Why Kurdish Oil Is a Wild Card for Markets - Bloomberg:
"If Iraq’s Kurdish territory were a country, it would probably qualify for OPEC membership. It wouldn’t even be the smallest member, given its production of more than half a million barrels of oil a day. That’s an impressive achievement for a landlocked enclave that started exploring only a decade ago. The region’s potential is greater still, though it faces political, military and economic challenges to expanding its output.
Tensions over a Sept. 25 independence referendum in the semi-autonomous oil province have flared into open conflict between the federal authorities and the Kurdistan Regional Government. The KRG included the disputed oil-rich territory of Kirkuk in the vote, prompting clashes between troops from both sides and an Iraqi military thrust to seize oil facilities from Kurdish forces.
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