Middle East Economic Survey

VOL. LII

No 20

18-May-2009

yemen

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...