Iraq has halted crude oil exports to Syria, creating a significant supply crisis for the country already struggling with political instability. The decision, prompted by security concerns regarding terrorist groups, coincides with the cessation of Iranian oil supplies. Consequently, Syria faces soaring fuel prices and dwindling reserves, exacerbated by internal delivery challenges.
Iraq has officially ceased its crude oil exports to Syria amid escalating security concerns arising from terrorist threats in the region. This announcement came from Iraqi parliament member Mustafa Sanad, coinciding with declarations from Foreign Minister Fuad Hussain, highlighting vigilance against potential terrorist activities. Syria previously received approximately 120,000 barrels of oil daily from Iraq, leading to a considerable supply disruption.
The crisis is further exacerbated by the cessation of internal crude deliveries from eastern Syria, governed by the Kurdish Syrian Democratic Forces, to areas controlled by the Hay’at Tahrir al-Sham group. Following recent shifts in power, oil shipments from Iran, which previously provided around 60,000 barrels daily, have also been halted. Notably, Syria’s own production is limited to about 80,000 barrels daily, primarily sourced from regions under Kurdish control.
As the transitional situation unfolds, fuel prices in Syria have surged as stocks diminish and transportation logistics have become increasingly fraught with challenges. These dynamics underscore the precarious state of oil supply in Syria amid the evolving political landscape.
The current oil supply crisis in Syria has arisen from Iraq’s abrupt suspension of crude oil deliveries amid security apprehensions regarding Islamist groups potentially regaining power in the region. Historically, Syria has depended heavily on imports from Iraq and Iran to meet its oil needs. The breakdown of internal oil flows within Syria itself, particularly from the eastern regions administered by the Kurdish-led Syrian Democratic Forces, has further contributed to a significant fuel supply shortage.
In summation, the cessation of Iraqi and Iranian oil exports to Syria highlights a critical vulnerability in the region’s fuel supply chain amidst rising political instability. With domestic production insufficient to meet demand and the potential for soaring fuel prices, the situation may lead to further humanitarian and economic crises in Syria as the country grapples with these manifold challenges.
Original Source: oilprice.com
