Super-rich Houthi warlords control 60% of oil market in Yemen including government territories

Super-rich Houthi warlords control 60% of oil market in Yemen including government territories

 

 

The Houthi militia's warlords have exploited power in their areas of control to sell oil products in the black markets at prohibitively high prices despite the fact they buy it at the low official prices, Alquds Al-Arabi news website reported.

 

From the very beginning of the Yemen coup, the warlords worked in oil trade and dominated over the public oil institutions and created fuel distribution companies in the black market.

 

Numerous economic sources told the website that trading in oil products during the war generated a lavish affluence for the top leaders of the Houthi group as they used the de facto power in their areas of control to sell oil products in the black market at too high prices.

 

"The companies affiliated to the Houthi leaders control now around 60% of the oil market in the entire Yemen including in the government-held territories," an economic source told the website.  read more from Alquds Al-Arabi

 

 

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