MOIT forecasts petroleum supply to reach 6.7 million m3 in Q2

Currently, the global price of crude oil has surpassed the threshold of 100USD/barrel and continues to fluctuate. It is expected that domestic petroleum demand in the second quarter will reach about 5.2 million m3.

The total demand for petroleum for the domestic market in 2022 is about 20.6 million m3.

In order to ensure the domestic supply of petroleum, the Ministry of Industry and Trade expects the petroleum supply in the second quarter to reach about 6.7 million m3, which will include supply from domestic production plants of about 3.7 million m3 and import sources of about 1.5 million m3, with an inventory of 1.5 million m3 to be transferred from the first quarter.