Libya stands to gain more than $20 billion in oil revenues by the end of the year if current geopolitical tensions in the Middle East sustain Brent crude oil prices above $100 per barrel.
This potential surge in income could provide crucial financial relief for the North African nation, despite ongoing internal instability.
The Libyan economy remains highly sensitive to fluctuations in the global oil market, making it particularly vulnerable to price shifts. According to Salem Al-Remih, president of the General Union of Oil Workers in Libya, a sustained rise in oil prices would offer a significant boost to the country’s public finances, which are heavily reliant on hydrocarbon exports.
In a context of persistent institutional fragility, this expected windfall could offer much-needed fiscal breathing room. Libya continues to depend on its oil sector for economic stabilization due to a lack of structural diversification. However, the actual volume of revenue remains contingent on the stability of oil facilities, which are frequently susceptible to internal conflicts and prolonged shutdowns.
SL/ac/Sf/fss/abj/APA