US base oils and lube demand fell in June as a slowdown in domestic consumption outweighed steadier export flows.Domestic base oils and lube consumption of 2.86mn bl (403,400t) in June fell from 3.01mn bl the previous month and by 30pc from year-earlier levels.Lower demand coincided with another wave of cuts to US refiners’ base oils posted prices throughout the month of June. The move added to blenders' incentive to delay their procurement plans until after the implementation of the lower prices.Base oils and lube exports of 3.24mn bl in June fell from 4.09mn bl in May and by just 2pc from year-earlier levels.The slowdown cut domestic and overseas demand combined to 6.12mn bl in June, down from 7.10mn bl the previous month.The volume was slightly higher than typical levels of 6.04mn bl/month over the past year..US’ June base oils output falls
US base oils and lube demand fell in June as a slowdown in domestic consumption outweighed steadier export flows.Domestic base oils and lube consumption of 2.86mn bl (403,400t) in June fell from 3.01mn bl the previous month and by 30pc from year-earlier levels.Lower demand coincided with another wave of cuts to US refiners’ base oils posted prices throughout the month of June. The move added to blenders' incentive to delay their procurement plans until after the implementation of the lower prices.Base oils and lube exports of 3.24mn bl in June fell from 4.09mn bl in May and by just 2pc from year-earlier levels.The slowdown cut domestic and overseas demand combined to 6.12mn bl in June, down from 7.10mn bl the previous month.The volume was slightly higher than typical levels of 6.04mn bl/month over the past year..US’ June base oils output falls