Protests Cost Libya $30bn in Oil Revenue

Reuters reports that Libya has lost $30 billion due to the ongoing protests at oilfields and export terminals, which have brought the country's oil output from 1.4 million bpd in July to less than 200,000 bpd currently.

The figure comes from Musbah Alkari, director of the central bank's reserves department, who also told the news agency that foreign currency reserves are currently around $110 billion, down from around $130 billion last summer.

He added that Libya was currently earning around $1 billion each month in oil revenues, having brought in between $4 billion and $5 billion a month before the protests started.

(Source: Reuters)

(Dollars image via Shutterstock)

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