Oil & Gas Sector Report – “A New Dawn Ahead”
Posted: Dec 11, 2025
- Global oil supply is expected to remain abundant across both OPEC and non-OPEC producers, while slightly softer demand in Western markets continues to exert downward pressure on oil prices in 2026. We forecast Brent crude to trade within the USD 55–65/bbl range under the base-case scenario.
- As domestic oil and gas output continues its declining trend, accelerating major projects such as Block B, Blue Whale (Cá Voi Xanh), and White Lion Phase 2B (Sư Tử Trắng 2B) is becoming increasingly critical to safeguard national energy security. In parallel, the LNG narrative is heating up, emerging as a viable transitional fuel to support the Net Zero commitment and meet the gas-to-power demand under Power Development Plan VIII approved by the Government.
- In 2026, regulatory mechanisms and policies are expected to be gradually issued or revised toward greater flexibility, transparency, and practicality for oil and gas enterprises. This will create favorable conditions for large, financially sound, and operationally standardized companies to strengthen their growth trajectory.
- Based on macroeconomic outlook, corporate fundamentals, and upcoming expansion projects, we identify GAS, PVS, and BSR as three representative oil and gas stocks suitable for investment in 2026.
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