Vietnam’s oil product imports fall from seven-month high

Oil

Vietnam’s oil product imports declined by 84K b/d (or 39%) m-o-m to 130K in February, falling to the lowest level since October 2020 after previously reaching a seven-month high in January, according to Argus reporting on preliminary customs data. Arrivals of gasoline fell by 32K b/d m-o-m to 36K b/d after previously increasing for the past five consecutive months, with diesel imports also decreasing by 44K b/d m-o-m to 67K b/d. Jet fuel imports tumbled by 11K b/d m-o-m to a five-month low of 12K b/d, as Covid-19 restriction measures continue to slash demand.