3 days ago
Brent price rise could pump $20bn into Libya
BY Libyan Express Jun 23, 2025 - 05:42 Libya stands to benefit from oil market shocks
The head of Libya's General Union of Oil Workers, Salem Al-Remih, has cautioned that ongoing tensions in the Middle East could drive Brent crude prices above the $100-per-barrel mark in the near future — a shift that could carry significant economic implications for Libya.
Speaking amid renewed regional instability, Al-Remih said a sustained increase in oil prices would offer a substantial boost to Libya's public finances. 'If current geopolitical tensions continue, we could see Brent comfortably exceed $100 a barrel, which would provide a much-needed uplift for the country's revenue,' he remarked.
He went on to predict that national oil income could surpass $20 billion during the remaining months of the year, assuming prices remain elevated.
The forecast comes at a pivotal moment for Libya, where hopes of economic recovery continue to rest heavily on the performance of the oil sector — the backbone of the national economy. The views expressed in Op-Ed pieces are those of the author and do not purport to reflect the opinions or views of Libyan Express.
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