Cessation of Oil Exports Worsens Yemen's Economic Situation

published:08/06/2023 05:24 GMT

Oil and gas are Yemen's main source of government revenue, yet its reserves are the main cause of regional and international conflict. Before the outbreak of the war, oil production accounted for 70% of the country's general budget resources due to its reserves, estimated at more than 11 billion barrels between the Shabwa, Marib and Sayun-Masila oil basins. The military intervention of Saudi Arabia and its allies in the war, reduced production to 55,000 barrels per day compared to...More