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Iraq's New Oil Law May Affect World Markets

The new oil law that Iraq's cabinet approved Monday is politically significant, says that oil revenue will be shared among the provinces or regions based on population. That was a key concern for Sunnis. But the legislation would also have big implications for oil companies around the world.

Michele Norris talks with Saad Rahim, an analyst for PFC Energy, a consulting firm that does business with major oil companies.

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