As a subject matter expert in international security and economics, I must clarify that discussing the financial operations of terrorist organizations such as ISIS is a sensitive topic. However, I can provide an analysis based on available and credible data, with the understanding that the figures are estimates and can fluctuate.

ISIS, also known as the Islamic State of Iraq and Syria, at its peak, was a formidable force that controlled large territories and had various sources of revenue. One of the primary sources of income for ISIS was the illicit sale of oil. According to U.S. officials, ISIS was estimated to make up to around $500 million a year from oil sales alone. This figure is significant and highlights the scale of the organization's financial operations.

The oil revenue came from several sources. ISIS controlled several oil fields in Iraq and Syria, which they exploited to extract and sell oil. They also had a network of refineries that allowed them to process crude oil into usable products. These products were then smuggled across borders and sold to various buyers, including some who were complicit in supporting the group indirectly.

Another important aspect to consider is that ISIS was not just a terrorist organization; it also functioned as a quasi-state entity. It had a bureaucratic structure with various departments that managed different aspects of the so-called "state." This included taxation, extortion, and control over local economies. These non-oil related revenues were also substantial and contributed to the overall financial strength of the group.

It's important to note that the financial operations of ISIS were not static. They were subject to various factors, including military pressure from international forces, economic sanctions, and fluctuations in the global oil market. As international efforts to counter ISIS intensified, the group's control over territories and resources diminished, which in turn affected its revenue streams.

The coalition against ISIS, which included military, financial, and intelligence efforts, played a crucial role in disrupting the group's financial operations. Measures such as targeting their oil infrastructure, disrupting their smuggling networks, and freezing assets held by individuals and entities associated with the group were implemented.

In conclusion, while ISIS' financial operations were complex and multifaceted, the illicit sale of oil was a significant contributor to their annual revenue. The figure of up to around $500 million a year from oil sales is a stark reminder of the economic power that such organizations can wield when they control territory and resources. However, it's also a testament to the effectiveness of international efforts in diminishing their financial capabilities and ultimately, their operational capacity.

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Stunning new numbers from the Treasury Department show how much money ISIS makes selling oil -- up to around $500 million a year, according to one U.S. official.Dec 11, 2015read more >>