Can Iraq crack down on ISIS' oil riches?
STORY HIGHLIGHTS
Editor's note: Luay al-Khatteeb is visiting fellow at the Brookings Doha Center, focusing on the geopolitics and political economy of the GCC and Iraq. He is the founder and director of the Iraq Energy Institute and serves as senior adviser to the federal parliament of Iraq for energy policy and economic reform. Follow him on Twitter.
(CNN) -- Luay al-Khatteeb has spoken to CNN previously about the impact of ISIS' march through northern Iraq, and the militant group's control of some oil fields. The crisis has escalated, and CNN has revisited the conversation to find out how Iraq could crack down on ISIS' oil riches under the guidance of its new oil minister, Adel Abdul Mahdi. This is al-Khatteeb's analysis of the situation.
How much oil does ISIS control?
Luay al-Khatteeb
ISIS, in control of a large swathe of eastern Syria, is now handling 60% of the country's oil assets and producing 50,000 barrels a day. This is not full capacity -- pre-conflict, the assets would have produced around 220,000 barrels a day out of the country's 385,000, according to Iraq Energy Institute figures. However, ISIS do control key oil fields including Al Omar, Tanak and Shadadi. ISIS also handle at least 25,000 barrels of oil a day in north and mid-west Iraq, but that is only a small slice of the country's total production.
This oil has found its way to the global economy through Turkey's southern corridor. This black-economy zone is known for its oil trades, smuggling antiquities from Iraq and Syria's ancient sites, and funneling thousands of jihadists to both countries.
Many observers see Turkey turning a blind eye on a zone that is actively contributing to the instability of the Middle East. Southern Turkey has become ISIS' safe haven for treating wounded fighters, a gateway for foreign jihadists, and a financial hub that brings ISIS over $3 million a day in oil money.
What should be done to tackle the black market in oil?
Now that ISIS are involved in trucking oil out of Iraq, Iraqi Kurdistan must better comply with the federal regulations and stop any trucking of oil for export not accounted for by the federal authority. There is a risk the oil would be mixed with other smuggled quantities by ISIS to Turkish black markets.
Read more from the original source:
Can Iraq crack down on ISIS' oil riches?
- Iraq pockets $30 billion in revenues through August, 77% from oil - The New Region - November 1st, 2026 [November 1st, 2026]
- El-Sayed's Father Linked to Charity in Iraq Probe - Yahoo - October 30th, 2026 [October 30th, 2026]
- What do Iraq War veterans have to do with The Killers biggest singalong? - Far Out Magazine - October 30th, 2026 [October 30th, 2026]
- How drought and oil expansion are eroding livelihoods in Iraq's Hawizeh Marshes - Middle East Eye - October 30th, 2026 [October 30th, 2026]
- Remarks at a UN Security Council Briefing on the Situation Between Iraq and Kuwait - United States Mission to the United Nations (.gov) - October 30th, 2026 [October 30th, 2026]
- Chinese Missiles in Iraq? Israels Fighter Jets Arent the Main Vulnerability - Middle East Forum - October 30th, 2026 [October 30th, 2026]
- Deep Dive: As the PKK packs up, will Turkiye also leave Iraq? - Amwaj.media - October 30th, 2026 [October 30th, 2026]
- Shafaq News..Owning a home in Iraq can take 50 years of saving - - October 30th, 2026 [October 30th, 2026]
- Tensions continue to mount as Iraq balances the Iran border crossing closures with national needs - The Jerusalem Post - October 30th, 2026 [October 30th, 2026]
- Shafaq News..Iraq urges Turkiye to put existing agreements into action - - October 30th, 2026 [October 30th, 2026]
- Maserati expands Iraq presence with new automotive partner - IraqiNews - October 30th, 2026 [October 30th, 2026]
- Iraq orders arrest of provincial leader amid tensions over Iran ties - Iran International - October 30th, 2026 [October 30th, 2026]
- Video | From Iraq To Ukraine: David Petraeus Says Drones Are Transforming The Future Of Warfare - NDTV - October 30th, 2026 [October 30th, 2026]
- Fire Reported on Tanker off the Coast of Iraq - The Maritime Executive - October 30th, 2026 [October 30th, 2026]
- Iraq sentences six French nationals to life over ISIS membership - The Arab Weekly - October 30th, 2026 [October 30th, 2026]
- 'One people in two countries': Iraq's Al Zaidi calls for partnership on first visit to Syria - The National - October 30th, 2026 [October 30th, 2026]
- Vessel Reported on Fire Southeast of Iraq - Ship & Bunker - October 30th, 2026 [October 30th, 2026]
- FM Fidan holds talks with OIC counterparts in Iraq - Daily Sabah - October 17th, 2026 [October 17th, 2026]
- IMF to firmly support Iraq, sees more work needed on Lebanon programme - The Arab Weekly - October 17th, 2026 [October 17th, 2026]
- Iraq rejects PKK ringleaders, as third-country exit gains ground - Trkiye Today - October 17th, 2026 [October 17th, 2026]
- IMF Moves Forward on Iraq and Lebanon Programmes as Regional Crises Bite - News and Statistics - IndexBox - October 17th, 2026 [October 17th, 2026]
- Death threats and isolation - the cost of fighting sexual violence in Iraq - BBC - October 17th, 2026 [October 17th, 2026]
- IMF to accelerate talks with Iraq and Lebanon The National - UA.NEWS - October 17th, 2026 [October 17th, 2026]
- BP partnership takes over as operator of Iraq oilfields - Upstream Online - October 17th, 2026 [October 17th, 2026]
- Six French ISIS Suspects to Stand Trial in Iraq - Kurdistan24 - September 20th, 2026 [September 20th, 2026]
- Iraq at the crossroads of arms and investment - Washington Times - September 20th, 2026 [September 20th, 2026]
- Israeli Sentenced to Death in Iraq to Return Home After 11 Years in Prison - Haaretz - September 20th, 2026 [September 20th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - AP News - September 20th, 2026 [September 20th, 2026]
- U.S. to pull all remaining troops from Iraq by Sept. 30 | WORLD - wng.org - September 20th, 2026 [September 20th, 2026]
- Israeli citizen, Ben Hassin, imprisoned in Iraq for murder, was freed and is returning to Israel after 11 years - report - i24NEWS - September 20th, 2026 [September 20th, 2026]
- Group warns Iraq could face dust on 300 days a year within a decade - 964media - September 20th, 2026 [September 20th, 2026]
- Iraq courts Europe in bid to diversify options after Coalition withdrawal - Amwaj.media - September 20th, 2026 [September 20th, 2026]
- French jihadists held in Iraq set to be tried from Sunday - Le Monde.fr - September 20th, 2026 [September 20th, 2026]
- Iraq Reopens Airspace to Civilian Flights After Years of Military Restrictions - ASHARQ AL-AWSAT English - September 20th, 2026 [September 20th, 2026]
- Iraq courts Europe with oil, energy and investment push - thearabweekly.com - September 20th, 2026 [September 20th, 2026]
- EBRD and EU boost trade finance in Iraq - EBRD - September 20th, 2026 [September 20th, 2026]
- The United States will withdraw its remaining troops from Iraq by September 30, but pro-Iranian groups are refusing to disarm - () - September 20th, 2026 [September 20th, 2026]
- From the archives: SHeDAISY honors amputee vets of Iraq, 2004 - stripes.com - September 20th, 2026 [September 20th, 2026]
- Shafaq News..ISIS attack brings security sweep in western Iraq - - September 20th, 2026 [September 20th, 2026]
- Iraq Says Coalition Missions End Will Mark New Phase of Sovereignty - The Diplomatic Insight - September 20th, 2026 [September 20th, 2026]
- Energy Crisis in Syria, Iraq, Kurdistan Region and Turkey - - September 20th, 2026 [September 20th, 2026]
- TotalEnergies, Iraq have agreed to start talks on energy projects, Iraq, France say - Yahoo Finance UK - September 20th, 2026 [September 20th, 2026]
- Army veteran paratrooper who deployed to Iraq, Afghanistan before helping rescue Fox News reporter dead at 50 - Fox News - September 20th, 2026 [September 20th, 2026]
- Iraq looks to end reliance on Hormuz and Iranian gas with pipelines and new power generation projects - EnterpriseAM - September 20th, 2026 [September 20th, 2026]
- French lawyers say they were denied access to cases of ISIS suspects in Iraq Asharq Al-Awsat - UA.NEWS - September 20th, 2026 [September 20th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - Yahoo - September 15th, 2026 [September 15th, 2026]
- TotalEnergies, Iraq have agreed to start talks on energy projects, Iraq, France say - Reuters - September 15th, 2026 [September 15th, 2026]
- The Zionist dream of a state stretching from the Mediterranean to Iraq - Al Jazeera - September 15th, 2026 [September 15th, 2026]
- Attack that closed key Saudi pipeline is blamed on Iran-backed militias in Iraq - PBS - September 15th, 2026 [September 15th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - Bozeman Daily Chronicle - September 15th, 2026 [September 15th, 2026]
- As the Last US Troops Pack Up in Iraq, Factions Signal Their Weapons Will Stay - ASHARQ AL-AWSAT English - September 15th, 2026 [September 15th, 2026]
- Iraq says Saudi pipeline attack originated from its territory, and other Mideast news - AP News - September 15th, 2026 [September 15th, 2026]
- People practice archery at Al-Zawraa Park in Baghdad, Iraq - Xinhua - September 15th, 2026 [September 15th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - Oskaloosa Herald - September 15th, 2026 [September 15th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - Ottumwa Courier - September 15th, 2026 [September 15th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - Temple Daily Telegram - September 15th, 2026 [September 15th, 2026]
- Saudi Arabia, under pressure from Iranian-allied militias in Iraq and Houthi rebels in Yemen, has postponed what would have been the highest level of... - September 15th, 2026 [September 15th, 2026]
- Saudi Arabia closes its East-West pipeline after attacks from Iraq - Foundation for Defense of Democracies - September 15th, 2026 [September 15th, 2026]
- Will the Institutionalization of Trkiye-Iraq Relations Take Root? - politicstoday.org - September 15th, 2026 [September 15th, 2026]
- Iraq postpones start of 20262027 academic year to October 11 - IraqiNews - September 15th, 2026 [September 15th, 2026]
- France and Iraq agree to strengthen energy and defense cooperation - UA.NEWS - September 15th, 2026 [September 15th, 2026]
- Iraq says investigations ongoing to identify perpetrators of attack on Saudi Arabia - The New Region - September 15th, 2026 [September 15th, 2026]
- TotalEnergies, Iraq agree to start talks on energy projects (TTE:NYSE) - Seeking Alpha - September 15th, 2026 [September 15th, 2026]
- As the last US troops pack up in Iraq, militias signal their weapons will stay - guardonline.com - September 15th, 2026 [September 15th, 2026]
- Iraq signs 25-Year contract to more than double gas output at Ajeel Field - Oil & Gas Middle East - September 15th, 2026 [September 15th, 2026]
- Iraq under pressure after local Iran-backed militias accused of attacking Saudi pipeline - The Times of Israel - September 15th, 2026 [September 15th, 2026]
- 49 prisoners to be extradited from Iraq to Iran: official - Mehr News Agency - September 15th, 2026 [September 15th, 2026]
- Iraq reviews work with foreign banks, credit rating with Rothschild & Co. - IraqiNews - September 15th, 2026 [September 15th, 2026]
- As The Iran War Lingers, Economic And Political Fireworks In Iraq Loom - MEMRI | Middle East Media Research Institute - September 15th, 2026 [September 15th, 2026]
- Iraq vet Pyrah gives up driving to choose life and the medicine that works - Cannabis News Australia - September 15th, 2026 [September 15th, 2026]
- Iraq resumes trade through border crossings with Iran - IraqiNews - September 15th, 2026 [September 15th, 2026]
- Iraq Is in Process of Seeking Oil Tankers for Hormuz Strait Runs - Bloomberg.com - September 6th, 2026 [September 6th, 2026]
- US reportedly withdrawing from Iraq adds pressure on Kurds - The Jerusalem Post - September 6th, 2026 [September 6th, 2026]
- Oscars: Iraq Picks No Paradise If You Are Killed by a Woman as Best International Feature Contender - The Hollywood Reporter - September 6th, 2026 [September 6th, 2026]
- Iraq completes investigation into thousands of ISIS detainees formerly held in Syria - Yahoo - September 6th, 2026 [September 6th, 2026]
- Iraq Initiative Conference 2026 - Chatham House - September 6th, 2026 [September 6th, 2026]
- Iran attack Iraqi Kurdistan in push to create buffer zone in Iraq - The Jerusalem Post - September 6th, 2026 [September 6th, 2026]
- This Marine Died in the Iraq War. His Mother Asks, What Was It For? - The New York Times - September 6th, 2026 [September 6th, 2026]
- Iraq boosts oil production capacity to three million bpd amid Strait of Hormuz attacks - thenationalnews.com - September 6th, 2026 [September 6th, 2026]
- Shafaq News..PMF bill heads to Iraq parliament within weeks - - September 6th, 2026 [September 6th, 2026]