Unless you've been living under a rock, you've probably heard that ISIL has taken over a large portion of Iraq, and it has put the entire country under threat of civil war or ethnic conflict. And just like every other conflict that has happened in recent years, tons of media pundits are saying how this will hurt oil companies like ExxonMobil (NYSE:XOM) and Royal Ducth Shell (NYSE:RDS-B), which have interests in the region. The one thing not being given much coverage, though, is how much it will actually impact these companies. Looking at the production portfolio of all the big oil players, it's hard to see any of them really struggling if Iraq's oil production were to come to screeching halt.
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