An Evaluation of Libya's Crude Oil Export Dynamics and Domestic Refining Capacity

Abstract

This study explores the economic trade - offs between crude oil exports and local refining in Libya. Using a qualitative approach, including market analysis, historical data, and case studies, the research evaluates the sustainability of both strategies. While crude oil exports provide immediate revenue, they expose Libya to market volatility. Conversely, local refining fosters economic diversification and job creation but requires substantial investment and political stability. The study recommends a dual strategy balancing exports with refining to ensure long - term economic stability. Future research should examine geopolitical influences and potential local processing expansions.