Europe’s base oils supply fell to a nine-month low in February amid a slump in output of Group I volumes.Supply of less than 330,000t in February fell from more than 380,000t the previous month, government data showed. The volume was the lowest since June 2022.Supply from countries producing Group I base oils fell by more than 45,000t in February from the previous month to the lowest in more than four years.Regional base oils prices extended their slide in February even as supply fell.Prices faced pressure from lingering surplus volumes at end-2022 and early this year. Falling prices coincided with weak lube demand, incentivizing blenders to hold off replenishing stocks..Americas’ Feb base oils supply falls.Contact us for more information about the data for these stories
Europe’s base oils supply fell to a nine-month low in February amid a slump in output of Group I volumes.Supply of less than 330,000t in February fell from more than 380,000t the previous month, government data showed. The volume was the lowest since June 2022.Supply from countries producing Group I base oils fell by more than 45,000t in February from the previous month to the lowest in more than four years.Regional base oils prices extended their slide in February even as supply fell.Prices faced pressure from lingering surplus volumes at end-2022 and early this year. Falling prices coincided with weak lube demand, incentivizing blenders to hold off replenishing stocks..Americas’ Feb base oils supply falls.Contact us for more information about the data for these stories