Italy’s base oils output fell to a ten-month low in February, easing an overhang of surplus supply in the European market at the same time as a seasonal improvement in regional demand.Base oils output of 50,180t in February slumped from 90,750t the previous month, government data showed.The January volume had been the highest in eighteen months and compounded Europe’s supply overhang during the first few weeks of the year.The February volume was the lowest since April 2022, when a Group I unit was offline for prolonged maintenance work.The size of the drop in output in February pointed to refinery production issues rather than planned run-cuts..Italy’s February lube demand rises
Italy’s base oils output fell to a ten-month low in February, easing an overhang of surplus supply in the European market at the same time as a seasonal improvement in regional demand.Base oils output of 50,180t in February slumped from 90,750t the previous month, government data showed.The January volume had been the highest in eighteen months and compounded Europe’s supply overhang during the first few weeks of the year.The February volume was the lowest since April 2022, when a Group I unit was offline for prolonged maintenance work.The size of the drop in output in February pointed to refinery production issues rather than planned run-cuts..Italy’s February lube demand rises