Libya's National Oil Corporation reported that April output hit 1.4 mn barrels a day, the strongest level since 2013, with roughly 1.2 mn barrels shipped abroad. The surge follows the U.S.-Israeli war on Iran that began Feb. 28, which has driven global crude prices higher and redirected demand toward Libyan grades. Firms rushed to sign contracts, eyeing crude as Hormuz Strait stays blocked.

Oil receipts jumped from $1 bn in February to $2.9 bn in April, according to the NOC. Analysts say the windfall reflects buyers replacing Gulf supplies lost to the Hormuz closure. Yet Libya’s opaque fiscal system and entrenched militia networks risk diverting cash into patronage rather than public services, a pattern UN reports have long warned about for decades across the country.

In early April the Central Bank unveiled a $31.5 bn budget, the first unified plan in a decade, but no line items were disclosed. Critics argue the document simply cements the power of warlords and the Dbeibeh administration, while modest inflation relief from the oil influx may be offset by continued public discontent and the ever‑present risk of revenue misappropriation overall.