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The Al-Omar oil field in Rmeilan, in northeast Syria, was captured from ISIS control by the Kurdish-led Syrian Democratic Forces on October 22, 2017. Photo: Hussein Malla / AP

Oil has been a key revenue source for ISIS, yet new data shows that production has steadily declined in areas under the group's control.

Historically, it has been difficult to get an accurate measure of ISIS's oil production. Past estimates extrapolated from chance observations at a small number of production sites — typically wherever journalists have had a source or intelligence documents have been seized. But that is like counting employees at a few McDonalds locations to draw conclusions about the number of workers across the fast food industry.

To arrive at a more precise figure, my colleagues and I developed a tool, as reported in a recent paper, that uses satellite imagery to evaluate in real time all 42 of the oil production sites once controlled by ISIS. The results show that production levels were approximately 56,000 barrels per day from July to December 2014. Production dropped to an average of 35,000 barrels per day throughout 2015, before declining further to approximately 16,000 barrels per day in 2016.

Why it matters: Our study shows that ISIS has been highly ineffective in managing its oil fields, limiting its revenue from these valuable assets and forcing it to fall back on taxation and extortion for funding. This data can also help to shape plans for rebuilding areas liberated from ISIS control by setting priorities for needed repairs and providing revenue projections for local economies.

Go deeper

Tracking the pandemic's unequal impact

Expand chart
Data: Morning Consult/Axios; Chart: Will Chase/Axios

The pandemic was bound to hit the most economically vulnerable among us the hardest. New polling data from Morning Consult, out this morning, shows the degree to which those difficulties were more concentrated among people of color.

Catch up quick: The Morning Consult/Axios Inequality Index has tracked the economic experience of adults in three wage groups since May 2020. We began publishing the findings in May of this year, and six months in, we’re slicing the data a little differently — and looking at inequality between ethnicities.

2 hours ago - Health

WHO says Omicron poses "very high" risk

World Health Organization Director-General Tedros Adhanom Ghebreyesus speaking in Geneva in October. Photo: Fabrice Coffrini/AFP via Getty Images

The World Health Organization said Monday in a new risk assessment that it believes the COVID-19 Omicron variant poses a "very high" risk to the globe because it may be more transmissible than other strains of the virus.

Why it matters: Though the WHO acknowledged there are still many uncertainties associated with the variant, the agency said it believes the likelihood of potential further spread of Omicron around the world is "high."

Battle for the soul of a new web

Illustration: Aïda Amer/Axios

A well-funded and intensely motivated chunk of tech's hive mind is finding common cause in a vast new project: rebuilding the web on a foundation of cryptocurrency and blockchain tech. They call it "Web3."

The big picture: Developers, investors and early adopters imagine a future in which the technologies that enable Bitcoin and Ethereum will break up the concentrated power today's tech giants wield and usher in a golden age of individual empowerment and entrepreneurial freedom.