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Iraq Helps Assuage OPEC Supply Concern as Crude-Oil Sales Surge

  • Nation’s output climbs to record while exports match 2016-high
  • Higher prices are spurring investment in south, Apicorp says
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Commerzbank’s Peter Dixon sees oil at $70, or just below, by the end of the year.Source: Bloomberg

As oil markets show growing global supply concern, Iraq is signaling the jitters may be overdone.

Output from OPEC’s second-biggest producer has jumped to a record and is set to expand further, reflecting higher investment in the country’s southern fields following crude’s rally.