The Netherlands’ base oils output rose to a fourteen-month high in June, extending its rebound after maintenance work slashed production earlier in the year.Base oils output of 105,000 tonnes in June rose from 85,000 tonnes the previous month and from just 10,000 tonnes in April, government data showed.The rebound in output in May and June helped to replenish regional supplies of premium-grade base oils.It also cut Europe’s reliance on the US for premium-grade base oils at a time of tighter availability in that market.US supply tightened because of plant maintenance work and stock-building ahead of and during the Atlantic hurricane season.Europe’s Group II base oils prices eased relative to Group I and Group III base oils in June even with a fall in imports from the US that month.Even with the drop in shipments, Europe’s supply from the Netherlands and from overseas sources of Group II base oils held at more than 160,000 tonnes in June.The volume fell from more than 180,000 tonnes in May, when supply got a boost from higher output from the Netherlands and a surge in shipments from the US.The June volume was still the second highest in nine months and up from less than 90,000 tonnes/month in each of the three months to April.The dip in supply at the start of the year highlighted Europe’s reliance on a single source for its supply of virgin Group II base oils from within the region.That reliance, and that kind of dip in supply, could curb blenders’ willingness to increase their consumption of Group II base oils in their formulations.The tighter availability of Group II base oils contrasted with Europe’s firm supply of Group I base oils in the first half of the year.Supply edged up even with unexpected plant maintenance work and the closure of a base oils unit.The firm supply reflected the still-more plentiful sources of Group I supplies from within and around Europe..UK’s June base oils output rises.Europe June Grp III supply holds steady.US’ June base oils exports to Europe rise
The Netherlands’ base oils output rose to a fourteen-month high in June, extending its rebound after maintenance work slashed production earlier in the year.Base oils output of 105,000 tonnes in June rose from 85,000 tonnes the previous month and from just 10,000 tonnes in April, government data showed.The rebound in output in May and June helped to replenish regional supplies of premium-grade base oils.It also cut Europe’s reliance on the US for premium-grade base oils at a time of tighter availability in that market.US supply tightened because of plant maintenance work and stock-building ahead of and during the Atlantic hurricane season.Europe’s Group II base oils prices eased relative to Group I and Group III base oils in June even with a fall in imports from the US that month.Even with the drop in shipments, Europe’s supply from the Netherlands and from overseas sources of Group II base oils held at more than 160,000 tonnes in June.The volume fell from more than 180,000 tonnes in May, when supply got a boost from higher output from the Netherlands and a surge in shipments from the US.The June volume was still the second highest in nine months and up from less than 90,000 tonnes/month in each of the three months to April.The dip in supply at the start of the year highlighted Europe’s reliance on a single source for its supply of virgin Group II base oils from within the region.That reliance, and that kind of dip in supply, could curb blenders’ willingness to increase their consumption of Group II base oils in their formulations.The tighter availability of Group II base oils contrasted with Europe’s firm supply of Group I base oils in the first half of the year.Supply edged up even with unexpected plant maintenance work and the closure of a base oils unit.The firm supply reflected the still-more plentiful sources of Group I supplies from within and around Europe..UK’s June base oils output rises.Europe June Grp III supply holds steady.US’ June base oils exports to Europe rise
