Iraq's oil industry and its future prospects

	Iraq's oil industry and its future prospects
magazine of college Administration&Economics for economic &administration & financial studies
Article 1, Volume 212, Issue 18, 2016, Pages 58-88
Abstract
Oil is a strategic commodity for producing and exporting countries in general, and Iraq in particular, as demonstrated international experience that oil is an important means to achieve economic growth, an important tool in the overall economic, social and political development, it is also an important source of hard currency for any national economy and a means to connect the local economy and the global economy The balance of payments support and actively participate in the support and other productive sectors of the economy, particularly Iraq's third largest oil reserves possessed in the world after Saudi Arabia and America, can reliably to implement economic development programs and achieve financial surpluses can raise national income size, and thus raise the standard of living of the population, have The research focused on the reality of the global oil industry, and to address the reality of the oil industry in Iraq and the challenges they faced, the researcher concluded that oil will keep at least in the short term one means energy task in meeting the global consumption in the future, but Iraq shall be deemed to countries that have the future promising in the industry as it is taken in the modern technological methods of production, research and exploration. And use the financial returns in the development of other economic sectors, and diversify sources of income to avoid economic.

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