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Islamic State Earns $800 Million a Year From Oil Sales

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The Islamic State is earning about $2 million a day, or $800 million a year, selling oil on the black market, according to one estimate.

The terrorist group is producing 50,000 to 60,000 barrels a day, according to a report released today by Englewood, Colorado-based IHS Inc. It controls as much as 350,000 barrels a day of capacity in Iraq and Syria.