The National Oil Corporation and the Central Bank of Libya have predicted that oil revenues in 2024 will reach $ 23.7 billion if production continues between 1.2 million barrels and 1.1 million barrels per day of oil.
Oil revenues have begun to improve this year, amid expectations that the goal of raising production capacity to normal rates, i.e. 1.5 million barrels per day in 2025, will be achieved if there is no disruption. Libya needs oil prices between $75 and $77 per barrel in order to raise oil revenues this year, as oil is the country's main source of foreign exchange and constitutes 95 percent of budget revenues.
Source (Al-Araby Al-Jadeed Newspaper, Edited)
