Despite its war with ISIS, Iraq is pumping oil at a pace not seen in nearly 40 years, and the spigot will be opened still wider by a deal reached Tuesday between Baghdad and the Kurds, energy experts and U.S. officials say. Tuesday's deal between the central government and the Kurdish regional government in Erbil will increase production, raising more money to fight ISIS and further decrease global oil prices, says oil trader John Kilduff. Kilduff said Western investment and the ready availability of superior U.S. drilling equipment -- denied for decades because of sanctions against the government of Saddam Hussein - have helped Iraq increase its production in the midst of conflict.
