Amid a gloomy stock market due to rising geopolitical tensions in the Middle East, oil stocks experienced a strong breakout. Stocks such as GAS, PVD, and BSR saw gains of over 3% as Brent oil prices surged to $75 per barrel, the highest in two months. This increase is partly due to the U.S. reporting a larger-than-expected decrease in crude oil inventories, indicating strong demand. The average oil price is projected to range from $70 to $75 per barrel in 2025, with improvements in oil sector profits expected due to robust E&P activities. Companies like BSR and PVD are anticipated to report higher profits thanks to a recovery in consumption. Major projects like the Thị Vải LNG port and the Lô B – Ô Môn project are underway, promising to enhance energy supply in the future. However, several volatile factors still need to be monitored.
Leave a Reply