By Almahdi Hindi, political activist
The National Oil Corporation (NOC) has announced that Libya’s oil production has reached approximately 1.49 million barrels per day, the highest production level the country has achieved since 2013. Beyond the numbers themselves, this achievement sends an important message: Libya’s oil sector still possesses the ability to recover and deliver exceptional results despite years of political division, armed conflict, and repeated shutdowns of oil fields and export terminals.
There is no doubt that this accomplishment is a credit to the men and women working in the oil sector, who have managed to sustain production under some of the most challenging conditions in the history of Libya’s petroleum industry. Yet, the real question today is not how many barrels Libya produces, but rather what the average Libyan citizen will gain from this production.
In 2013, when production levels were close to today’s figures, citizens experienced a significantly different economic reality. The Libyan dinar enjoyed stronger purchasing power, liquidity was readily available in banks, and inflation remained within acceptable levels. Today, however, despite the substantial oil revenues generated in recent years, citizens face a noticeable decline in purchasing power, persistent increases in prices, and financial pressures resulting from fees imposed on foreign currency transactions, in addition to ongoing liquidity challenges within the banking system.
This is where the fundamental paradox lies. Higher oil production does not automatically translate into improved economic conditions. Oil provides resources, but it does not guarantee sound management of those resources. Libya’s economic history is filled with periods during which the state generated enormous oil revenues without achieving sustainable development or meaningful improvements in public services.
The real challenge facing the country today is not merely reaching 1.5 million barrels per day, but transforming this production surge into tangible benefits that citizens can feel in their daily lives. Achieving this requires addressing a number of urgent issues, foremost among them ensuring fiscal stability, controlling public spending, strengthening the value of the Libyan dinar, improving essential public services, investing in infrastructure, and allocating sufficient resources to maintain and develop the oil sector itself in order to guarantee sustainable production.
Transparency has also become a national necessity no less important than increasing production. As revenues rise, so too does the need for clear disclosure regarding expenditure priorities and the allocation of public funds. Citizens who hear about record-breaking production figures expect to see the results reflected in electricity, healthcare, education, roads, and employment opportunities—not in inflated consumption spending or the expansion of unproductive government obligations.
Today, Libya stands before a significant economic opportunity that may not easily present itself again. Global markets continue to value Libyan oil, the oil sector has demonstrated remarkable resilience, and production is approaching historic levels. However, the success of this phase should not be measured by the number of barrels produced or the volume of revenues flowing into the public treasury. Rather, it should be assessed by the state’s ability to transform oil wealth into economic stability and genuine development.
Oil has always been one of Libya’s greatest sources of strength. But it becomes a source of prosperity only when its benefits reach the citizen. Only then can rising production be considered not merely an oil-sector achievement, but a true national achievement.
