The economic expert and a member of the exchange rate adjustment and follow-up committee formed by the Central Bank of Libya, Misbah Al-Akari, said that the high oil prices witnessed in global markets these days are very important to us as an oil-exporting country, but we should not build on these prices and that the returns be managed with a rational government.
Al-Akari explained that oil prices had previously risen in 2008 to the level of 140 dollars per barrel, and there were analyzes at the time that crude prices would reach 200 dollars per barrel, which led to the formation of huge financial surpluses for the oil-exporting countries, while the oil-consuming countries were affected, but In the following year 2009, oil prices fell to levels of about 30 dollars a barrel.
He added: « Yes, high oil prices are very important to us as an oil-exporting country, but we must be careful and not build on these very high prices, and the returns must be managed wisely and rationally. »