In the first 11 months of the year, Vietnam's crude oil exports earned 1.7 billion USD.

According to statistics from the General Department of Customs, Vietnam's crude oil exports in November reached 311,483 tons with a value of more than 231 million USD, a sharp increase of 29.1% in volume and 22.4% in value compared to October.

In the first 11 months of the year, our country earned 1.7 billion USD from crude oil exports with more than 2.5 million tons, up 4.9% in volume but down 14% in value compared to the same period.

The average export price reached 685 USD/ton, down 19% over the same period in 2022.

In the first 11 months of the year, Vietnam's crude oil exports earned 1.7 billion USD. (Source: PV Oil)

Among crude oil export markets, Thailand is the largest market, and recorded a surge in production in the first 11 months of the year.

Specifically, Vietnam exported 989,950 tons of crude oil to Thailand in the first 11 months of the year, earning more than 666 million USD, up 23% in volume but down 2.5% in value compared to the same period in 2022. The export price reached 673 USD/ton, down 21% compared to the same period in 2022.

Besides Thailand, our country also exports crude oil to countries such as Australia, Japan, Singapore, and Indonesia.

However, on the contrary, according to statistics from the General Department of Customs, our country's crude oil imports in October increased sharply by 199% in volume and 209% in value compared to September with more than 1.2 million tons, worth more than 867 million USD. In the first 10 months of the year, our country imported more than 9 million tons of crude oil, with a turnover of more than 5.6 million USD, up 11.6% in volume but down 10% in value compared to the same period in 2022. Kuwait is the largest crude oil supplier to Vietnam with 7.1 million tons of crude oil, worth more than 4.3 billion USD.

Crude oil is one of Vietnam's strategic commodities. In 2022, Vietnam exported 2.7 million tons of crude oil, but also imported 10.2 million tons for oil refining, worth more than 7.8 billion USD. The imported crude oil is mainly used for the two oil refineries Nghi Son and Dung Quat.

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