Global Oil Market: Problems in Iraq - Nov 1

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From Bloomberg 11-1-2019:
-- Iraq’s oil-production could be in danger if unrest in the country escalates given that that the crude-rich Basra province is at the center of the turmoil, RBC Capital Markets analysts including Helima Croft say in research note.
* Oil production has not been impacted so far, but oil workers are increasingly joining the demonstrations and the protests are causing logistical challenges for the companies per RBC
* Protesters on Wednesday shut down the main road leading to the 340,000 b/d Halfaya oil field, and a three-day sit-in has closed the Port of Umm Qasr, a critical hub for importing oil equipment and materials
* Regional tumult will likely reinforce resolve of OPEC members to secure sufficient revenue to keep their own citizens content, eliminating any idea of them trying to price shale producers out
of business: RBC
* Only a small number of OPEC producers have sufficient fiscal buffers to endure another prolonged price collapse without risking adverse political consequences