The English-language African news outlet APA reported on Sunday that Libya is expected to earn over $20 billion in oil revenues by the end of the year—provided current geopolitical tensions in the Middle East keep Brent crude prices above $100 per barrel.
The site noted that this potential increase in income would benefit Libya, despite its ongoing internal instability.
According to APA, Libya’s economy remains highly vulnerable to fluctuations in the global oil market, making it particularly exposed to price volatility.
Salem Al-Rumaieh, head of the General Union of Oil Workers in Libya, stated that the ongoing rise in oil prices will provide a strong boost to the country’s overall economy, which relies heavily on hydrocarbon exports.
The report added that, despite institutional fragility, the expected revenues could bring about economic and financial shifts.
However, the site emphasized that Libya still depends heavily on its oil sector for economic stability due to a lack of structural diversification. The actual size of revenue, nonetheless, remains contingent on the stability of oil facilities—which are often subject to internal conflict and prolonged shutdowns.
