for islamic state
Unlike its activities in Iraq and Syria, ISIS is focused on destroying Libya's oil sector rather than profiting from it—at least for now.
The deteriorating relations between Saudi Arabia and Iran amid the Saudi execution of several Shia prisoners, including a prominent cleric, add a key uncertainty to oil markets in the upcoming year, and for the longer-term stability of the Middle East,
Rather than selling crude oil on the open market, ISIS oil is refined in hundreds of makeshift local refineries.
The Syrian war has rattled the Middle East and increased tensions between Russia and the U.S., but there has not been any significant impact on oil prices.