By Sam Wilkin | Reuters, London Tuesday, 14 October 2014 - U.S.-led air strikes have significantly reduced Islamic State of Syria and Iraq’s ISIS) 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 ISIS-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.
ISIS needs access to gasoline and diesel to fuel its war effort, and knocking out the refineries will curtail its ability to use the tanks and other military vehicles which it has captured from Syrian and Iraqi forces.
The group has launched waves of attacks against Baiji, Iraq’s largest refinery, since June, but failed to capture it.
“With their oil assets diminished, the militants are determined to gain access to additional sources of fuel and revenue,” the IEA said. Last Update: Tuesday, 14 October 2014 KSA 13:49 - GMT 10:49