China’s Group II base oils output stayed low in a narrow range in August even as it edged up from the previous month.Base oils output of less than 290,000t in August rose from close to 270,000t the previous month, OilChem China data showed.The volume was down from close to 300,000t in May and in June, and just above average levels of around 278,000 t/month in 2022.Output had averaged more than 470,000 t/month in 2021.Low Group II base oils output in August limited supply ahead of a seasonal rise in lube demand at the end of the third quarter of the year and start of the fourth quarter.Output stayed low because of a steady flow of additional or extended plant shutdowns for maintenance work.The low production also coincided with unusually weak domestic Group II base oils margins, combined with relatively firm diesel values versus feedstock prices..China’s July base oils imports fall
China’s Group II base oils output stayed low in a narrow range in August even as it edged up from the previous month.Base oils output of less than 290,000t in August rose from close to 270,000t the previous month, OilChem China data showed.The volume was down from close to 300,000t in May and in June, and just above average levels of around 278,000 t/month in 2022.Output had averaged more than 470,000 t/month in 2021.Low Group II base oils output in August limited supply ahead of a seasonal rise in lube demand at the end of the third quarter of the year and start of the fourth quarter.Output stayed low because of a steady flow of additional or extended plant shutdowns for maintenance work.The low production also coincided with unusually weak domestic Group II base oils margins, combined with relatively firm diesel values versus feedstock prices..China’s July base oils imports fall
