World Oil Prices Crash, Virus Hits, Commerce Stops: Iraq Is in Trouble. March 29, 2020March 29, 2020ALISSA J. RUBINComments Off on Oil Prices Crash, Virus Hits, Commerce Stops: Iraq Is in Trouble. Iraq depends on oil revenues, which have plummeted. The country is so desperate it is asking for donations to help it weather the pandemic.