China is currently the largest buyer of Oil from Iraq. It buys daily 1.5 million barrels of oil which is almost half the output of Iraq. Reason? China is able to compromise on its profits and is bidding lower prices. Moreover it is readily conforming to the Iraqi laws. So without any hassles, Iraq is able to sell oil to Chinese companies which have set up their bases in Iraq. US on the other hand is unable to reap any benefits despite its long presence in the Iraqi land. Any critiques?
