89 Days
Source:
عين ليبيا
Oil Expert Explains the True Cause of the Fuel Crisis with Key Numbers—Were We Misled by the Smuggling Story?
Although Libya produces around 1.4 million barrels of oil per day, the ongoing fuel crisis is due to limited domestic refining capacity and large-scale imports of petroleum derivatives. Local refineries produce about 150,000 barrels daily, while the market requires approximately 200,000 barrels per day to meet demand, especially for gasoline and diesel. This results in an annual import bill of up to $5 billion when the price of a barrel is $60. The crisis is further worsened by weak infrastructure, distribution and storage obstacles, and the smuggling of part of the imported fuel.
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