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.

The United States and its allies, including Saudi Arabia and the United Arab Emirates, began launching air strikes against ISIS in Iraq in August, and in Syria in September, including targeted strikes against oilfields and refineries controlled by the group. […]