This study aims to measure and analyze the impact of oil price fluctuations on economic growth in Libya, using annual time-series data from 1990 to 2024. Given Libya’s reinter economic structure, which relies heavily on oil revenues, understanding the magnitude and channels of this relationship is crucial for policymakers. The study uses real Gross Domestic Product (GDP) as the dependent variable, and oil prices as the main independent variable, alongside other macroeconomic variables such as the exchange rate, government spending, inflation, and political stability. Two dummy variables were also introduced: one to capture the effect of political instability, and another for the shutdown of oil exports in specific years. The Autoregressive Distributed Lag (ARDL) model was employed to assess both the short-run and long-run dynamics. Unit root tests showed that all variables are stationary at level or first difference, justifying the use of the ARDL methodology. The bounds test confirmed the existence of a long-run equilibrium relationship among the variables. The results revealed a significant negative long-run impact of oil price fluctuations on economic growth, supporting the "Dutch Disease" hypothesis, whereby overreliance on oil weakens other productive sectors. In contrast, government spending was found to be the main positive transmission channel, significantly enhancing GDP in the long term. In the short run, political instability and oil export shutdowns were shown to have significant negative effects on growth, while periods of political stability contributed positively to output. The study recommends adopting counter-cyclical fiscal policies, activating stabilization funds, and accelerating economic diversification to reduce oil dependency and mitigate the adverse effects of external shocks............... Keywords:.......... Economic Growth, Oil Prices, Reinter Economy, ARDL Model, Dutch Disease.