The U.S. Plans To Flood The Global Market With Oil From Libya
- 17.06.2026, 19:05
Following those of Iran and Venezuela.
One of the clear trends running like a common thread through the often unpredictable foreign policy of Donald Trump is the pursuit of energy dominance — increasing oil production and bringing supplies under U.S. control, including by involving American companies in the development of oil fields. After successfully taking control of Venezuela’s oil industry and promising to “seize” Iran’s oil (which ended with Iran being allowed to export it unhindered), Trump quietly began implementing a similar scenario in Libya, writes Bloomberg.
Washington is trying to reconcile the warring factions controlling eastern and western Libya, calculating that ensuring stability will open up access to Africa’s largest oil reserves. U.S. companies are already getting involved: ConocoPhillips and Chevron signed agreements in 2026 to develop oil fields, and Exxon Mobil is considering a return to the Libyan market after a 10-year hiatus.
Washington’s plans were confirmed in an interview with the Financial Times by Massad Boulos, Trump’s advisor on the Middle East and Africa. “Our plan is to establish a unified government and bring all institutions together,” said the Lebanese-American businessman, who is the father-in-law of Trump’s daughter Tiffany. Along with efforts to establish a unified government, Boulos said he is encouraging American oil companies to invest in Libya.
Increasing Libya’s production capacity will, in particular, allow for increased supplies to nearby Europe. Libya currently produces about 1.3 million barrels per day. The UN-recognized government in Tripoli hopes to bring this figure up to 2 million. But to do so, it must convince the armed groups—which have repeatedly paralyzed the industry—to stop using oil as a tool to exert pressure in the struggle for power and money.
However, since the fall of Libyan dictator Muammar Gaddafi in 2011, efforts by the UN, European countries, and the United States have not yielded significant results. The armed factions controlling oil supplies are interested in enriching themselves and maintaining control over their territories, rather than in a national settlement, experts say.
“These are all just wishful thinking,” says Claudia Gazzini, a senior analyst at the International Crisis Group. According to her, in Benghazi—the capital of eastern Libya, controlled by General Khalifa Haftar—“there is not a word in public discourse about reconciliation with the other side or about the need to move forward”:
“The discussion revolves exclusively around what those currently in power can achieve, and everything is based on the premise that Tripoli is the enemy.”
The Haftar family has never given any indication that it is willing to share power, adds Tim Eaton, a senior fellow at Chatham House in London.
Russia, moreover, has tried to establish relations with Haftar; Deputy Defense Minister Yunus-Bek Yevkurov, who oversees the Russian Federation’s African Corps, visited him.
Russia also used Libya to organize smuggling operations of petroleum products to Europe via Albania.