Middle East Economic Survey
Declining Oil Production And Price Challenge Yemens Economy In The Medium Term
Yemens oil production has been declining since 2000. Current production capacity stands at around 300,000 b/d and the countrys natural resources could be depleted within the next 10-12 years unless significant new discoveries are made (MEES, 1 December 2008). Oil accounts for roughly two thirds of public revenue and 90% of export receipts. As a result, Yemens...