![Europe’s Group II base oils market share rises in 2023](http://media.assettype.com/baseoilnews%2F2023-12%2Fdd5e561f-1018-4031-8cec-4a339d9df751%2FEurope_Grp_II_Dec_18_2023_thumbnail.png?w=480&auto=format%2Ccompress&fit=max)
· Europe’s Group II base oils prices rise relative to Group I and Group III prices in 2023 even as supply rises, ICIS data shows.
· Rise in Group II prices versus Group I and Group III prices coincides with ongoing slide in regional lube demand.
· Trend suggests Group II base oils are covering a growing share of market demand as well as supply.