Europe’s Group III base oils supply fell to a thirteen-month low in November as a dip in shipments from Spain and the Mideast Gulf outweighed a rise in supplies from Asia.Total supply of less than 110,000t in November fell from an already-low volume of less than 130,000t the previous month, government data showed.The drop in volumes cut total supplies to around 690,000t in the five months to November, down 8pc from year-earlier levels of around 750,000t. Europe’s Group III base oils price premium to feedstock prices steadied in the fourth quarter of last year, ICIS data showed.The premium fell sharply during the first nine months of the year in the face of weak demand and plentiful supply.Demand remained weak in the fourth quarter. Supply was tighter than earlier in the year.Europe’s Group III supply fell in November as shipments from Spain dipped to a two-year low.A simultaneous slump in imports from the UAE and Bahrain compounded the slowdown.The drop in Group III volumes would have been even larger if not for a rebound in supplies from Asia to a six-month high..Europe’s Nov premium-grade imports from Mideast Gulf fall
Europe’s Group III base oils supply fell to a thirteen-month low in November as a dip in shipments from Spain and the Mideast Gulf outweighed a rise in supplies from Asia.Total supply of less than 110,000t in November fell from an already-low volume of less than 130,000t the previous month, government data showed.The drop in volumes cut total supplies to around 690,000t in the five months to November, down 8pc from year-earlier levels of around 750,000t. Europe’s Group III base oils price premium to feedstock prices steadied in the fourth quarter of last year, ICIS data showed.The premium fell sharply during the first nine months of the year in the face of weak demand and plentiful supply.Demand remained weak in the fourth quarter. Supply was tighter than earlier in the year.Europe’s Group III supply fell in November as shipments from Spain dipped to a two-year low.A simultaneous slump in imports from the UAE and Bahrain compounded the slowdown.The drop in Group III volumes would have been even larger if not for a rebound in supplies from Asia to a six-month high..Europe’s Nov premium-grade imports from Mideast Gulf fall
