Oil Price in Belarus — Brent & WTI Crude Today

Belarus has no crude production of its own and imports almost all oil from Russia via pipeline. Its refineries in Mozyr and Novopolotsk re-export products, leaving the economy exposed to both Russian supply terms and global Brent pricing.

Classified here as a net importer, Belarus trades against Urals and ESPO. That is the pricing reference the sections below work from — the headline Brent number quoted at the top of this page is the global marker, not necessarily the price Belarus settles at.

Belarus produces no meaningful volume of crude, so every barrel consumed has to be bought at an internationally set price. That makes the Brent benchmark a direct input into the trade balance: a sustained move in crude shows up in the current account, in the currency, and eventually in domestic inflation.

Russian export grades trade at a negotiated discount to Dated Brent rather than at the headline number, so the Brent print is a reference point rather than a settlement price.

Belarus refines for its own market. Domestic refining means crude is imported or produced and converted locally, so the local fuel price reflects crude cost plus the domestic refining margin rather than the landed cost of finished product. Refinery outages and turnaround schedules can therefore move pump prices here independently of Brent.

Crude is invoiced in US dollars, so buyers in Belarus face two prices at once: the Brent price and the BYN exchange rate. A weakening BYN raises the local cost of a barrel even when Brent is flat, which is why domestic fuel prices in currency-exposed markets often fail to fall when the benchmark does. The reference rate used in the estimates on this site is 3.27 BYN per USD.