Islamic State oil production reduced by air strikes
US-led air strikes have significantly reduced Islamic State's ability to produce, smuggle and refine oil, the International Energy Agency said in its monthly report on Tuesday, citing Western and Iraqi officials.
The coalition's targeting of IS-held oil infrastructure has knocked crude production down to around 20,000 barrels per day (bpd) from a high of about 70,000 bpd achieved after the group expanded its territory over the summer, the report said.
In parallel, the governments of Turkey and Iraq's Kurdistan Region have cracked down on IS's smuggling of crude oil, which had brought in revenue estimated at $1 million to $3 million for the radical Sunni Islamist group.
The crackdown has cut smuggling to less than 10,000 bpd from a high of 30,000 bpd, unnamed officials said in the report.
