If ISIS Takes Anbar, Iraq Will Be Cut Off From OPEC -- Hot Air

In preparation for what appears to be the Islamic State’s imminent assault on portions of Baghdad, ISIS is going about securing the neighboring key Sunni-dominated province of Anbar.

On Sunday, ISIS claimed responsibility for a series of coordinated suicide bombings and roadside attacks in that Iraqi province. One of those attacks killed Brig. Gen. Ahmed Al-Dulaimi, the chief of police in Ramadi, Anbar’s provincial capital. Officials estimate that ISIS now controls approximately 80 percent of that restive province, and will soon mount an assault on the regional capital.

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My Comment: The southern Iraqi oil fields will probably continue to operate .... but for the rest of Iraq .... a lost cause. The long term damage to Iraq's oil industry .... and global oil supplies .... cannot be underestimated. On the plus side .... global oil supplies are still robust (for now) .... Exclusive: Privately, Saudis tell oil market- get used to lower prices (Reuters)