Audit Bureau: Libya produced 287.9 million barrels of oil in first seven months of 2026

Crude exports generated $18.46bn, with most revenue channelled through the Central Bank as Libya phases out fuel-swap arrangements.

Libya produced approximately 287.9 million barrels of crude oil during the first seven months of 2026, according to a report by the Audit Bureau, the country's state financial oversight body. Exports over the same period totalled around 193.4 million barrels.

The total value of oil exports reached roughly $18.46 billion, including $663.6 million from sales of condensates and other petroleum products, the report said.

Of this revenue, some $11.16 billion was transferred to the Central Bank of Libya, while the Libyan Foreign Bank collected $15.789 billion.C

The cost of importing refined fuel from abroad stood at $6.122 billion, covering roughly 6.11 million metric tonnes delivered across 207 shipments during the same period.

The report noted that Libya ended its fuel-swap system for importing refined products on 12 February 2026, switching instead to a system of documentary credits funded directly by oil revenues  a shift that gives the state tighter control over how fuel-import costs are financed and tracked.