Vietnam forecast to face net imports of crude oil

Vietnam’s self-sufficiency for crude oil could come to an end due to exploitation that could turn the country into a net importer of crude oil for the first time, experts warned.

According to analysts from the Fitch Solutions Macro Research, crude oil production in Vietnam would continue to drop over the coming years, averaging annual declines of 4-5 percent over the next 10 years, as offshore reserves fell and investment in significant new projects slowed.

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