Base oils supply in the Americas market fell to a three-month low and more steeply than regional demand in June, cutting surplus volumes.Base oils supply of less than 670,000t in June fell from more than 780,000t the previous month, government data showed.Supply dropped as additional plant maintenance work in the US slashed the country’s base oils output.Base oils production edged higher in other markets like Brazil and Argentina.Supply fell in June by 13pc and for the fourteenth time in fifteen months from year-earlier levels.The slowdown cut total supply to less than 4.20mn t in first-half 2023, down 10pc from close to 4.65mn t during the same period last year.The more-than 100,000t fall in supply in June from May outpaced the 30,000t drop in Americas' lube demand during the same period..Americas’ June lube demand falls
Base oils supply in the Americas market fell to a three-month low and more steeply than regional demand in June, cutting surplus volumes.Base oils supply of less than 670,000t in June fell from more than 780,000t the previous month, government data showed.Supply dropped as additional plant maintenance work in the US slashed the country’s base oils output.Base oils production edged higher in other markets like Brazil and Argentina.Supply fell in June by 13pc and for the fourteenth time in fifteen months from year-earlier levels.The slowdown cut total supply to less than 4.20mn t in first-half 2023, down 10pc from close to 4.65mn t during the same period last year.The more-than 100,000t fall in supply in June from May outpaced the 30,000t drop in Americas' lube demand during the same period..Americas’ June lube demand falls