Viet Nam secures oil supplies amid fuel shortage concern
VGP - Viet Nam has mobilized about four million barrels of oil from partners to ensure short-term supplies amid public concerns about fuel shortages, said Prime Minister Pham Minh Chinh.
Prime Minister Pham Minh Chinh at the meeting on preparation for the first session of the 16th National Assembly, Ha Noi, March 9, 2026 - Photo: VGP
The figure was announced on March 9 at a meeting co-chaired by the Government leader and Chairman of the National Assembly Tran Thanh Man to prepare for the first session of the 16th National Assembly.
Pham said, recent tensions in the Middle East have affected the global energy supply chain, increasing transportation costs and putting pressure on macroeconomic management.
The Vietnamese government has held meetings and directed ministries and agencies to closely monitor the situation and develop response measures.
In 2025, the country's total petroleum consumption reached about 26.4 million cubic meters, with an average monthly consumption of around 2.2 million cubic meters. Inventory levels by the end of the year were estimated at about 1.7 million cubic meters, meeting the required reserve levels.
Four million barrels of oil is equivalent to roughly 636,000 cubic meters, enough to meet about 10 days of the country's petroleum consumption, based on the average consumption level in 2025.
The same day, the Prime Minister held phone conversations with leaders from UAE, Qatar and Kuwait to discuss the situation in the Middle East and energy cooperation between Viet Nam and these countries.
During the phone calls, the foreign leaders vowed to work with relevant partners to consider continued crude oil supplies to Viet Nam and strengthen energy cooperation in the coming period./.
