Monday Macro Vew: What will happen to Syria’s oil sector post revolution?

Syria’s oil and gas sector, once a critical economic pillar, now faces a complicated and uncertain path forward following the fall of Bashar al-Assad’s regime. The energy industry, already decimated by more than a decade of civil war, is confronted with extensive infrastructural damage, fragmented control, and geopolitical complexities. Before the conflict began in 2011, Syria produced about 383,000 barrels per day (bpd) of oil, contributing roughly 25% of government revenue. By 2023, production had plummeted to an estimated 40,000 bpd, underscoring the immense toll of war, sanctions, and mismanagement.