Asia’s surplus of base oils supply over regional demand widened less than expected in August, curbing a build-up of surplus supplies.The surplus of base oils supply over demand widened to close to 195,000t in August, up from less 140,000t in July and less than 100,000t in June.The surplus rose in the face of a sharp rebound in regional supply in August, especially in South Korea.The surplus rose less than expected amid an unusual rise in the region’s lube demand in August.The size of the surplus fell by 35pc and for a fifth month from year-earlier levels.The combined surplus of more than 420,000t in the three months to August was down from close to 680,000t during the same period last year.The smaller surplus curbed the pressure on refiners to accept prices that made feasible the arbitrage to more distant markets..Asia’s August base oils supply rises
Asia’s surplus of base oils supply over regional demand widened less than expected in August, curbing a build-up of surplus supplies.The surplus of base oils supply over demand widened to close to 195,000t in August, up from less 140,000t in July and less than 100,000t in June.The surplus rose in the face of a sharp rebound in regional supply in August, especially in South Korea.The surplus rose less than expected amid an unusual rise in the region’s lube demand in August.The size of the surplus fell by 35pc and for a fifth month from year-earlier levels.The combined surplus of more than 420,000t in the three months to August was down from close to 680,000t during the same period last year.The smaller surplus curbed the pressure on refiners to accept prices that made feasible the arbitrage to more distant markets..Asia’s August base oils supply rises