Islamic State Is Raking In $800 Million From Black Market Oil Sales

Townhall.com Staff
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Posted: Oct 21, 2014 9:24 AM

The Islamist State militant group now running a big chunk of northern Iraq and Syria, is churning out more than $2 million dollars worth of oil every day, according to an analysis released by IHS.

Scarily, that’s far below the group’s potential output. IHS says Islamic State is probably only producing 50,000 barrels per day, but the territory it occupies is capable of producing 350,000.