Vietnam Oil Market Report: Top 3 Oil Suppliers in Vietnam in December 2025
Introduction – Vietnam’s Oil Market: A Quantitative Overview
Vietnam’s oil industry has been shifting quickly, shaped by falling domestic production, heavier import dependence, and exciting new offshore discoveries that signal long‑term potential. With 4.4 billion barrels of proven oil reserves by 2024, Vietnam controls about 0.25% of global oil reserves—ranking 25th in the world. Daily production averaged around 197,167 barrels, placing the country 37th globally. But production has been dipping steadily, with 2024 alone reflecting a 6% drop from the previous year.
These declines have caused Vietnam’s crude oil exports to fall sharply. The country exported about 1.7 million tons of crude oil in 2024—nearly 10% less than in 2023. Meanwhile, imports surged dramatically to support refinery operations. Vietnam imported roughly 9.1 million tons of crude oil worth over $8 billion in 2024, representing an unprecedented 235% year‑over‑year increase. Much of this was supplied by Kuwait, which consistently accounts for 85–90% of all crude oil going into Vietnam.
Despite production challenges, Vietnam’s energy sector is buzzing with major developments. Murphy Oil made headlines in January 2026 with a massive offshore discovery in the Cuu Long Basin—estimated at over 430 million barrels and declared Southeast Asia’s largest find in two decades. At the same time, refineries like NSRP have been running above designed capacity, even requesting the approval to import an extra 1.68 million metric tons of Kuwaiti crude for 2025 to keep up with domestic consumption. Vietnam is also boosting its strategic fuel reserves—aiming for 15 days of net imports by 2025 and 30 days by 2030—requiring investment surpassing $170 million.
In a dynamic environment like this, choosing the right oil supplier requires data-driven decision‑making. Platforms like Freshdi help buyers analyze market trends, supplier performance, export capacity, and RFQ activity. These insights make it easier for businesses to evaluate opportunities and minimize risk.
Deep Dive – Key Production, Export Statistics & Demand Insights
Vietnam’s oil sector shows a clear contrast between declining output and strong internal demand. While exports have fallen due to reduced local availability, imports keep climbing as refineries and industrial users boost their capacity.
Buyers browsing oil-related products on platforms such as Freshdi have shown increased interest in refined oils, cooking oils, and plant-based specialty oils. This shift aligns with rising domestic consumption and the steady growth of Vietnam’s food production and cosmetic sectors.
RFQ activity on Freshdi often spikes when global prices fluctuate, allowing analysts to identify demand cycles. This helps buyers pinpoint the best periods for procurement—especially for refined or specialty oils like coconut oil, macadamia oil, and peanut oil.
By connecting real-time data with sector trends, businesses can better understand pricing behavior, volume demands, and supplier reliability.
Top 3 Verified Oil Suppliers in Vietnam – Leading Exporters by Volume
The following suppliers were selected based on export volume, product quality, certifications, and positive buyer feedback on Freshdi. They are known for reliability, consistent production capacity, and strong records in global markets.
1. DAI BINH ECOLOGICAL COOPERATIVE
Supplier link: https://freshdi.com/product/Groundnut-Peanut-Oil-Best-Seller-Organic-Peanut-Oil-Dai-Binh-Food-Making-Machines-High-Quality-Cooking-Oil-Made-In-Vietnam?utm_source=blog
DAI BINH ECOLOGICAL COOPERATIVE specializes in premium organic peanut oil, produced through natural methods and minimal processing. Buyers consistently praise the company for stable export performance and high-quality, additive-free oil. Their products are popular in both food-processing and retail markets worldwide.
2. ECO FARMIE EXPORT CO., LTD
Supplier link: https://freshdi.com/product/Cosmetic-healthy-vegan-nutritional-coconut-oil-for-hair-virgin-coco-oil-best-price-in-bulk-quantity-for-export?utm_source=blog
ECO FARMIE is well known for its virgin coconut oil, widely used in cosmetics, skin care, health products, and cooking. Their focus on strict quality control and strong sustainability practices makes them a top choice for buyers looking for consistent, high-purity coconut oil. ECO FARMIE also offers attractive bulk export terms and is recognized for strong buyer satisfaction scores on Freshdi.
3. 99 GOLD DATA
Supplier link: https://freshdi.com/product/Cheap-price-RBD-Coconut-Oil-original-Refined-coconut-oil-from-Vietnam-qualified-for-export?utm_source=blog
99 GOLD DATA offers refined coconut oil (RBD), making them a key supplier for manufacturers seeking stable quality and large-volume sourcing. Their export-ready processes and competitive pricing give them an edge in global supply chains for food, cosmetics, and industrial-grade oils. Buyers appreciate their transparency, certification standards, and timely global shipments.
Dynamic Ranking Note
Freshdi also provides dynamic rankings—such as “Suppliers of the Month” or “Quarter Leaders”—based on shipping performance, buyer reviews, and RFQ activity. These rankings change over time, giving buyers updated insights into the top-performing oil suppliers in Vietnam.
Market Navigation – Statistical Trends, Pricing Analysis & Export Dynamics
Vietnam’s oil pricing trends depend heavily on global crude markets, shipping costs, and local refinery output. While crude oil remains volatile, specialty oils like coconut, peanut, and sesame oil show more predictable seasonal patterns.
Refined plant oils often rise in price during:
- Peak harvest seasons abroad
- Increased global demand in food and cosmetic industries
- Temporary supply shortages caused by climate or logistics issues
Historical pricing data shows that purchasing during off-peak seasons can reduce procurement costs. Many buyers now track RFQ spikes on platforms like Freshdi to anticipate price movement and secure favorable deals. This demand-driven insight allows buyers to negotiate better terms, lock in forward pricing, or widen their supplier pool strategically.
Export dynamics also shift based on the type of oil. Virgin coconut oil, for instance, sees high demand from North America and Europe, while peanut oil is widely shipped to South Asian and Middle Eastern markets. Understanding these patterns helps buyers choose suppliers capable of meeting specific volume and quality requirements.
Conclusion – Leveraging Data for Informed Procurement
Vietnam remains a major player in refined and specialty oils, supported by strong agricultural output and growing production capabilities. Even though crude oil production is declining, the country’s refined oils sector continues to accelerate and attract global buyers.
Companies looking to source from Vietnam should focus on:
- Supplier reliability and export track record
- Production capacity and certifications
- Market trends backed by demand data
- Seasonal price patterns for cost optimization
Freshdi empowers buyers by offering supplier verification tools, insight into RFQ trends, and detailed product analytics. With this support, buyers can make informed decisions, reduce risk, and build long-term sourcing partnerships with Vietnam’s top oil suppliers.
FAQs
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Why are Vietnam’s refined oils so popular with international buyers?
Because Vietnam offers high-quality plant-based oils with competitive pricing and strong export consistency. -
How does Freshdi help buyers compare oil suppliers?
Freshdi provides supplier ratings, export data, reviews, and RFQ trends that help buyers evaluate performance. -
Are Vietnamese suppliers reliable for large-volume exports?
Yes, especially the top verified suppliers with strong export histories and certifications. -
When is the best time to source plant oils from Vietnam?
Prices are often more favorable in off-peak seasons when demand drops. -
Are certifications important when choosing an oil supplier?
Absolutely. Certifications help ensure product purity, safety, and global compliance.
References
https://www.worldometers.info/oil/vietnam-oil/?utm_source=openai
https://www.vietnamexportdata.com/blogs/vietnam-crude-oil-imports-2024-25-analysis?utm_source=openai
https://the-shiv.com/vietnams-crude-oil-industry/?utm_source=openai
https://gulfnews.com/business/energy/oil-bombshell-in-vietnam-us-giant-murphy-finds-aseans-biggest-strike-in-20-years-1.500403852?utm_source=openai
https://www.spglobal.com/energy/en/news-research/latest-news/crude-oil/111124-vietnams-nsrp-seeks-approval-to-import-more-kuwaiti-crude-amid-high-run-rates?utm_source=openai
https://english.news.cn/20230313/bb7ad2e8d21444b1b28090576fa2ae9c/c.html?utm_source=openai
