Axis victory in North Africa?

I was watching something on Sahara yesterday, and the they brought up World War 2, they had said if the Axis had gotten control of the Suez Canal it would have cut off supplies for the allies.

What happens if Germany/Italy got control of the Suez Canal and won in North Africa?
 
They could more easily get to the oil fields in the middle east. However this would require a 1941 victory, 1942/43 onwards I find abit irrelevent to their war effort.
 
If the Axis did what was neccesary to win I think we would find an German army/air force in northern Iraq when Barbarossa started theatening the Caucus.
 
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