The Vietnamese stock market opens the week in the red due to rising tensions in the Middle East, but oil stocks like GAS, PLX, PVS, PVD, BSR are surging. Brent crude oil prices exceeded $79 per barrel, rising over 2% amid fears of potential disruptions to global oil supplies from Iran. Since early June, Brent crude has increased nearly 30%.
Future forecasts suggest average oil prices in 2025 will range from $70 to $75 per barrel, supported by OPEC’s decision not to cut production and better-than-expected recovery in China. Q2 earnings reports from the oil sector show strong growth prospects. Specifically, PVS is expected to report revenue of 5,986 billion VND, net profit of 239 billion VND; PVD expects revenue of 2,425 billion VND and net profit of 236 billion VND. GAS is projected to have revenue of 32,415 billion VND and net profit of 3,996 billion VND, boosted by high gas consumption. Conversely, while both BSR and PLX are expected to see good revenue, they face significant declines in profitability.
Leave a Reply