Syria’s Economic Woes Only Set To Intensify

As Syria’s civil war enters its fifth year, key indicators point to further deterioration in the economy, with oil production sinking to an all-time low and further depreciation in the value of the local currency.

Syrian oil production in the government-controlled areas in 2014 slumped to 9,329 b/d, the Syrian Minister of Petroleum and Mineral Resources Sulaiman al-‘Abbas announced this week. This output is a mere 2.4% of...