Oil production from Iraq, the world’s fastest source of supply growth last quarter, will remain similar to current levels next year as the slump in crude prices and the cost of fighting Islamic State militants hamper the government’s ability to invest in new capacity, the International Energy Agency said. Volumes are expected to stay at about 4.2 million barrels a day, matching third-quarter output, the IEA said in its monthly report. While the country has “performed better than many had anticipated,” there are signs of strain, the agency said. Iraq, the biggest producer in the Organization of Petroleum Exporting Countries after Saudi Arabia, pumped a record 4.4 million barrels a day in June, according to data compiled by Bloomberg. Output last quarter rose by a third from a year earlier, the world’s fastest supply growth, according to the IEA. “Oil’s collapse and Iraq’s severe financial crisis have forced the […]