terrorists out of the city of Baiji and the Baiji refinery.
On Monday, December 22, the Islamic State Terrorists have
conducted a counterattack to reclaim the city of Baiji. The
Iraqi army and Shiite militias left Baiji on Monday
morning, and there are people inside Baiji saying that the
Islamic State are controlling most of the city. The people
are also saying that the Islamic State terrorists also
control the entrance of the refinery.
The CBI governor Ali Mohsen Ismail Alak has stated that the
cost of the war against the Islamic State costs 4-5 billion
dollars per month. The governor met with the International
Monetary Fund (IMF) in Istanbul, Turkey and was advised to
expect an economic decline due to the lower oil prices.
Iraq is expected to increased oil experts to approximately
4 million daily barrels by 2016. The increase in oil
exports will do well for raising the value of the Iraqi
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