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Economics

Saudi Arabia Grants Syria 1.65 Million Barrels of Oil to Aid Economy

Saudi Arabia announced Thursday that it will provide Syria with 1.65 million barrels of crude oil as part of efforts to support the war-torn country’s struggling economy, according to the official Saudi Press Agency (SPA).

The grant, delivered through the Saudi Fund for Development, is valued at around $110 million based on current oil prices.

Syria consumes roughly 138,000 barrels of crude oil per day, according to defense and energy data site Global Firepower, meaning the grant would cover nearly 12 days of the country’s needs.

The announcement follows Riyadh’s pledge weeks earlier to invest more than $6.4 billion in Syria as part of broader plans to back reconstruction and economic recovery.

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