China’s base oils supply surplus over India's supply fell in July to the narrowest level in years amid diverging supply-demand dynamics in the two countries.China’s base oils supply, or paraffinic base oils output and imports combined, fell to less than 455,000t in July, down from more than 550,000t the previous month, government and industry data showed.India’s base oils supply rose to more than 450,000t in July, from little more than 440,000t in June.The surplus of China’s base oils supply over India’s supply narrowed to less than 4,000t in response.The surplus narrowed from more than 110,000t the previous month.The surplus averaged more than 93,000 t/month in 2022 and more than 220,000 t/month in 2021.The surplus narrowed mostly because of a drop in China’s base oils supply.India’s base oils supply is set to get a boost in the coming months when new units start operations..India July base oil supply surplus widens
China’s base oils supply surplus over India's supply fell in July to the narrowest level in years amid diverging supply-demand dynamics in the two countries.China’s base oils supply, or paraffinic base oils output and imports combined, fell to less than 455,000t in July, down from more than 550,000t the previous month, government and industry data showed.India’s base oils supply rose to more than 450,000t in July, from little more than 440,000t in June.The surplus of China’s base oils supply over India’s supply narrowed to less than 4,000t in response.The surplus narrowed from more than 110,000t the previous month.The surplus averaged more than 93,000 t/month in 2022 and more than 220,000 t/month in 2021.The surplus narrowed mostly because of a drop in China’s base oils supply.India’s base oils supply is set to get a boost in the coming months when new units start operations..India July base oil supply surplus widens