Africa · LBY · OPEC
Libya
OPEC’s swing that is also a civil war. When the Sharara and El Feel fields run, Mediterranean sweet shows up in Europe overnight.
Oil production
1.4 mb/d
0.2 mb/d demand
Net oil
+1.1 mb/d
Export surplus
Gas production
12 bcm
Net +4 bcm
O&G rent
46.0%
Fiscal breakeven $70
Oil balance
Production versus demand, 2025, million barrels per day.
Gas balance
Production versus demand, 2025, billion cubic metres.
Proven oil
48 bn bbl
Gas reserves
1.5 tcm
Refining
0.4 mb/d
LNG
No LNG
Hydrocarbon mix
Oil versus gas in this country’s oil-and-gas demand (oil-equivalent).
- Oil44%
- Gas56%
Economy
Two governments, one NOC, 48 billion barrels. Output prints on the tape whenever a pipeline is blocked. Europe treats Libyan barrels as weather.
- GDP
- $0.0 tn
- Population
- 7.2 m
- Oil intensity
- 1.8 bbl /$1k
- Oil & gas rent
- 46.0% GDP
- Hydrocarbon trade
- -32.0% GDP
- Fiscal breakeven
- $70 /bbl
- $30 oil shock
- +281.5 pp GDP
- Club
- OPEC
Projected oil demand
Regional IEA WEO 2025 oil pathways applied to this country’s 2025 baseline. STEPS 2035 demand 0.3 mb/d (net +1.2) versus NZE 0.2 mb/d (net +0.5).
| Scenario | 2025 | 2030 | 2035 | 2050 |
|---|---|---|---|---|
| Stated Policies | 0.2 | 0.3 | 0.3 | 0.4 |
| Net Zero 2050 | 0.2 | 0.2 | 0.2 | 0.1 |
| Current Policies | 0.2 | 0.3 | 0.3 | 0.4 |