Vietnam imports more refined oil to bridge supply gaps
Vietnam increased refined oil imports by nearly 17 percent in March and April to offset a drop in crude supplies following the outbreak of the Iran war. While the shift helped maintain energy stability, it contributed to a trade deficit and pushed consumer price inflation to 5.46 percent.
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Vietnam increased refined oil imports 17% by volume in March and April to counter crude supply disruptions following the Iran war. The shift helped the industrial hub maintain energy supplies but triggered a trade deficit and pushed consumer prices to 5.46% in April, exceeding the government's 4.5% target. Refined oil import costs rose 144% in dollar terms during the period.
