IRAN-SYRIA

Iran Cuts Back Crude Oil Deliveries to Syria 

MEES learns that Iran has substantially cut back its crude oil deliveries to Syria, largely owing to non-payment by the latter of an oil debt which has now accumulated to some $1.5bn. As a result of the shortfall in Iranian supplies, Syria has become a regular buyer in the Mediterranean spot market during the past three months, purchasing every two weeks a shipment of 90,000 tons (48,000 b/d) of light crude (Saharan Blend,...