ABC News on Nostr: Syria's revolution could impact US gas prices. Here's how. ========== Oil prices rose ...
Syria's revolution could impact US gas prices. Here's how.
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Oil prices rose about 2% on December 9, 2024, following the defeat of Bashar al-Assad's regime in Syria; Syria is not a major oil producer but occupies a strategic location in the Middle East; the Assad regime had close ties with Iran, a key oil exporter; experts suggest that while Syria's immediate impact on US oil prices is minimal, further regional unrest could disrupt oil supply; oil prices currently stand at about $68 per barrel, down from a peak of $87 in April 2024; Syria's GDP shrank nearly 80% from 2010 to 2019, with 70% of the population living in poverty; oil production in Syria fell from 400,000 barrels per day before the war to 25,000 barrels per day in May 2015; Iran, as the fourth-largest OPEC producer, could be a significant factor in future oil price shocks; the outcome of the situation in Syria remains uncertain.
#Syria #OilPrices #BasharAlassad #Iran #MiddleEast #UsGasPrices #CivilWar #Economy #Opec #Energy
https://abcnews.go.com/Business/syrias-revolution-impact-us-gas-prices/story?id=116596027
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Oil prices rose about 2% on December 9, 2024, following the defeat of Bashar al-Assad's regime in Syria; Syria is not a major oil producer but occupies a strategic location in the Middle East; the Assad regime had close ties with Iran, a key oil exporter; experts suggest that while Syria's immediate impact on US oil prices is minimal, further regional unrest could disrupt oil supply; oil prices currently stand at about $68 per barrel, down from a peak of $87 in April 2024; Syria's GDP shrank nearly 80% from 2010 to 2019, with 70% of the population living in poverty; oil production in Syria fell from 400,000 barrels per day before the war to 25,000 barrels per day in May 2015; Iran, as the fourth-largest OPEC producer, could be a significant factor in future oil price shocks; the outcome of the situation in Syria remains uncertain.
#Syria #OilPrices #BasharAlassad #Iran #MiddleEast #UsGasPrices #CivilWar #Economy #Opec #Energy
https://abcnews.go.com/Business/syrias-revolution-impact-us-gas-prices/story?id=116596027