Key Market Indicators
Demand for Belarusian crude oil is close to 1.5 million metric tons in April 2021, a slight drop from 1.4 million metric tons in March 2021. The decrease of 0.1% compared to the same time last year marks a 1.7% drop since January 2017. Belarusian crude oil production is set to reach 1.4 million tonnes of oil equivalent by 2026. This is a 0.9% decrease year-on-year on average since 1995 when the total fell by 2.1%. Belarus was ranked 49th in 2021, just behind Peru at 1.49 million tonnes of oil equivalent. Saudi Arabia, the United States and Iraq are ranked 2nd, 3rd and 4th respectively.
