Iraq Lowers Price 2015 Forecast to $55/bbl
Falling oil prices forced Iraq's cabinet on Tuesday to revise its draft 2105 budget, trimming its forecast for oil to $55 a barrel from $60. It trimmed spending to 119 trillion Iraqi dinars ($104.85 billion) for 2015. Reporting by Ahmed Rasheed
Oil Majors Cut Staff in Iraq on Violence Fears
. "The risk of a protracted civil war has become all too apparent," its analysts wrote. "Longer term, the risks have also risen as investment projects could be cancelled or delayed." (By Vladimir Soldatkin and Nidhi Verma; Additional reporting by Olesya Astakhova in Moscow, Ahmed Rasheed in Baghdad and Ben Blanchard in Beijing; Writing by Dmitry Zhdannikov; Editing by Alastair Macdonald