Europe’s base oils supply fell to a four-month low in October on a dip in regional output and imports.Demand rose on the back of firmer regional consumption and higher exports to markets outside the region.Falling supply and rising demand cut Europe’s supply surplus to its lowest in four months.The smaller surplus slowed a build-up of stocks during the fourth quarter of the year, when demand typically faces a seasonal slowdown and blenders seek to cut their inventories.Blenders’ moves to maintain lower stocks throughout last year could have curbed the size of the slowdown in demand by limiting the volume of the inventories that they needed to cut.Base oils supply from regional markets came to around 340,000t in October, government data showed.The volume fell from close to 400,000t the previous month and from typical levels of around 370,000 t/month over the past year.The lower supply mostly reflected the impact of a sharp drop in output in the Netherlands and the UK.Including base oils imports, supply of around 490,000t in October fell from close to 560,000t the previous month to the lowest since June.The lower supply contrasted with a rise in demand in October to a four-month high of more than 460,000t..Europe’s October lube demand rises.Europe’s October base oils imports fall
Europe’s base oils supply fell to a four-month low in October on a dip in regional output and imports.Demand rose on the back of firmer regional consumption and higher exports to markets outside the region.Falling supply and rising demand cut Europe’s supply surplus to its lowest in four months.The smaller surplus slowed a build-up of stocks during the fourth quarter of the year, when demand typically faces a seasonal slowdown and blenders seek to cut their inventories.Blenders’ moves to maintain lower stocks throughout last year could have curbed the size of the slowdown in demand by limiting the volume of the inventories that they needed to cut.Base oils supply from regional markets came to around 340,000t in October, government data showed.The volume fell from close to 400,000t the previous month and from typical levels of around 370,000 t/month over the past year.The lower supply mostly reflected the impact of a sharp drop in output in the Netherlands and the UK.Including base oils imports, supply of around 490,000t in October fell from close to 560,000t the previous month to the lowest since June.The lower supply contrasted with a rise in demand in October to a four-month high of more than 460,000t..Europe’s October lube demand rises.Europe’s October base oils imports fall