The global oil market has been under continuous pressure in recent trading sessions. According to Mr. Trần Ngọc Quang, Deputy Director of SFVN, the main reasons are the sluggish economic growth and weak demand in China. Furthermore, it is typical for oil demand to decline in the fourth quarter—the final quarter of the year—when the peak consumption season has passed.

However, Mr. Quang believes that oil prices may fluctuate in the near future because there is still room for prices to rise, and the market has strong confidence that the Fed will cut interest rates in September.

Source: VTV 1