· Crude oil prices stay weak as concern about global economic slowdown outweighs prospect of tighter crude oil supplies.· Diesel prices hold steadier in recent weeks relative to crude, at lowest levels in more than a year.· US/Europe economies continue to face pressure to bring down high inflation through high interest rates.· China faces pressure from too-low inflation, pointing to relative weakness of economic recovery.· Volatile crude oil prices, high base oils prices relative to diesel, concern about demand outlook, prospect of slower-than-usual pick-up in Q2 lube consumption add to attraction for blenders to maintain lower stocks.· Procurement of smaller volumes would increase blenders’ need to replenish inventories more frequently.· Blenders’ lower stocks would cut their ability to absorb impact of any unexpected fall in supply..Global base oils - week of May 15: Price outlook - margins.Contact us for more information about the data for this story
· Crude oil prices stay weak as concern about global economic slowdown outweighs prospect of tighter crude oil supplies.· Diesel prices hold steadier in recent weeks relative to crude, at lowest levels in more than a year.· US/Europe economies continue to face pressure to bring down high inflation through high interest rates.· China faces pressure from too-low inflation, pointing to relative weakness of economic recovery.· Volatile crude oil prices, high base oils prices relative to diesel, concern about demand outlook, prospect of slower-than-usual pick-up in Q2 lube consumption add to attraction for blenders to maintain lower stocks.· Procurement of smaller volumes would increase blenders’ need to replenish inventories more frequently.· Blenders’ lower stocks would cut their ability to absorb impact of any unexpected fall in supply..Global base oils - week of May 15: Price outlook - margins.Contact us for more information about the data for this story