BLK ALERTS - Why oil prices are falling, and what it means for the economy

BLK ALERTS - Why oil prices are falling, and what it means for the economy

Between tariffs roiling the global economy and OPEC putting more barrels on the market, prices have dropped significantly since January. That’s good for consumers, and bad for oil companies. (Image credit: Andrew Harnik)

Exploring the Future of Libya’s Economy | THE TIMES OF AFRICA

Libya’s economy is primarily reliant on the oil and gas sector, which comprises 97% of overall exports, more than 90% of government revenues, and 68% of GDP. Libya’s real GDP growth rate was recorded at a significant 12.6% in 2023, thanks to reliable production of oil and security improvements. Demand increased in the economy due to increased private consumption and exports. Consequently, inflation dropped to 2.4%. However, deteriorating global …