Vietnam’s crude imports reach five-month high in December

Oil

Vietnam’s crude imports increased by 61K b/d m-o-m and 32K b/d y-o-y to 260K b/d in December, the highest level since July, customs data showed. Across 2021 shipments have averaged 194K b/d, which is a decline of 35K b/d compared to 2020. Oil product imports edged up by 4K b/d m-o-m to 165K b/d, rising for the fourth consecutive month to reach the highest level since May. This is still a decline of 44K b/d y-o-y however. Arrivals from northeast Asia built by 41K b/d m-o-m to a seven-month high of 61K b/d, whereas imports from southeast Asia declined by 37K b/d m-o-m to 105K b/d.