Oil Price in Syrian Arab Republic — Brent & WTI Crude Today

Syria was a modest crude producer but output has collapsed amid conflict, leaving it reliant on imports and allies for fuel. Its remaining production is Brent-linked in principle, though sanctions distort real pricing.

Classified here as a small domestic producer, Syrian Arab Republic trades against the Dubai/Oman average, with Brent for westbound cargoes. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Syrian Arab Republic settles at.

Syrian Arab Republic produces crude, but not at a volume that influences the global balance. Domestic output softens the import bill without insulating the country from the benchmark, because unsold barrels always have an export alternative — refiners price against what the crude could fetch abroad, not what it cost to lift.

Official selling prices for Asian buyers are set as a differential to the Dubai/Oman average, while cargoes heading west are priced against Brent. The Brent–Dubai spread therefore steers which direction barrels flow.

Syrian Arab Republic has only limited refining capacity relative to demand, so it exports crude and re-imports refined product. That combination is unforgiving: the country sells at a benchmark-linked crude price and buys back at a product price that includes someone else's refining margin and the freight both ways.

Crude is invoiced in US dollars worldwide. Where local prices are quoted in dollars or in a dollar-pegged currency, that removes one layer of volatility: buyers in Syrian Arab Republic face the crude move on its own, without an exchange-rate move stacked on top of it.