U.S. describes oil deal between Kurdish and Iraqi governments as a blow to Islamic State insurgents. Kurdish Peshmerga soldiers are pictured here taking up position against Islamic State militants on August 28, 2014. Photo by Mohammed al Jumaily/UPI WASHINGTON, Dec. 3 (UPI) — An Iraqi deal ending a simmering impasse over oil is an economic victory as well as a blow to Islamic State insurgents, the U.S. State Department said. Under the terms of an agreement reached earlier this week, around 250,000 barrels of oil per day are permissible for exports, while another 300,000 bpd will come from the disputed northern province of Kirkuk. Both sides will export their oil through the federal State Oil Marketing Organization, while the semiautonomous Kurdish government receives 17 percent of national oil revenues. Marie Harf, a spokeswoman for the U.S. State Department, said the agreement is in line with existing constitutional mandates and […]