The article discusses the recent world oil crisis and its impact on Vietnam's petroleum market and economy. It explains how the price of oil contracts dropped below 0 USD for the first time in history, affecting the oil industry in Vietnam. The negative oil price was a result of trading in the futures market, showing a short-term imbalance between futures and physical markets. The study predicts a scenario of low oil prices in the future and provides recommendations for the oil industry and governance in Vietnam to handle this challenging period.