Oil Flow From Iraq Halts
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<i> Reuters </i>
DUBAI, United Arab Emirates — q’s oil exports came to a complete halt today as a world embargo took hold after its invasion of Kuwait.
Oil industry sources said no Iraqi oil was leaving Turkey or Saudi Arabia, which carry nearly 90% of Baghdad’s exports by pipeline, nor was any oil leaving Iraq by sea.
Oil is Iraq’s main source of foreign exchange, and a prolonged embargo could destroy its economy. It was exporting 2.7 million barrels per day--5% of world output.
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