Iraq, Kuwait Dispute Flares Up as Oil Income Falls

(Bloomberg) — Iraq, holder of the third-largest oil reserves in the world, wants to halt about $25 billion in war- reparation payments to Kuwait as lower oil prices reduce its budget revenue and raise tension between the two neighbors.

Iraqi legislators on June 1 urged the government to stop paying for Saddam Hussein

Middle Eastern oil producers are likely to run government deficits this year after crude oil fell from a record $147.27 a barrel last July. Saudi Arabia, the world