India’s base oils supply exceeded lube demand for a third month in June, ahead of the monsoon season when consumption typically slows.Persistent surplus volumes and slowing demand curbed blenders’ urgency to lock in more supplies.Base oils supply, or domestic production and imports combined, rose in June to a three-month high of 442,000t.Domestic and overseas lube demand rose in June to a three-month high of more than 370,000t.The supply surplus of close to 70,000t in June rose from around 61,000t the previous month and to 222,000t in the second quarter of the year.The surplus contrasted with a 120,000t supply shortfall in the first three months of the year..India’s June base oils output rises
India’s base oils supply exceeded lube demand for a third month in June, ahead of the monsoon season when consumption typically slows.Persistent surplus volumes and slowing demand curbed blenders’ urgency to lock in more supplies.Base oils supply, or domestic production and imports combined, rose in June to a three-month high of 442,000t.Domestic and overseas lube demand rose in June to a three-month high of more than 370,000t.The supply surplus of close to 70,000t in June rose from around 61,000t the previous month and to 222,000t in the second quarter of the year.The surplus contrasted with a 120,000t supply shortfall in the first three months of the year..India’s June base oils output rises