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SANA'A, May 21 (Saba)- Official oil export statistics have showed a 25.6% year-on-year (y/y) plunge in January this year and a 21.1% y/y plunge in February, as political crisis escalated in Yemen.

The statistics, released by the Central Bank of Yemen, put the country's exports in February at 4.5 million barrels, down from 5.7 million barrels in February 2010.

Simultaneously, domestic demand continued to grow in Yemen and came in 22% higher on a y/y basis by early February—at a level of 4.5 million barrels per month—although because of domestic disturbances and supply chain disruptions consumption later that month it fell by 16.2%.

Thanks to the high oil prices, Yemen still saw a 4.1% increase in y/y oil export revenue by the end of February, collecting some USD454.9 million.

YA
Saba