India’s base oils supply lagged demand in June for the first time in three months, partially reversing a large build-up of surplus supplies in April and May.The dynamic raised the prospect of leaving blenders’ stocks more balanced heading into the third quarter of the year.Base oils demand showed signs of staying muted so far in the third quarter even with the drop in stocks in June.The muted demand coincided with a likely fall in the country’s domestic base oils output in July because of plant maintenance work.The maintenance work was scheduled to take place from mid-June to end-July.India’s base oils output of 113,000 tonnes in June fell from 125,000 tonnes the previous month, government data showed.The volume was still higher than usual and the second-highest in six months.The firm volume suggested that any plant maintenance began nearer the end of June, with the largest impact on output likely to have taken place in the month of July.The lower output in June, combined with an even sharper fall in base oils imports, cut India’s total base oils supply to less than 420,000 tonnes that month.The volume was down from more than 510,000 tonnes in May.Supply faced the prospect of staying lower in July unless imports rebounded sharply.India’s total demand, or domestic consumption and exports combined, rose to more than 450,000 tonnes in June, from close to 390,000 tonnes the previous month.The volume exceeded supply by almost 40,000 tonnes.The country’s lube demand typically rises in the month of July from June before slowing in August.Any repeat of that trend this year could keep India’s supply-demand balance relatively tight at the start of the third quarter of the year.The dynamic raised the prospect of a stronger pick-up in requirements for supplies to replenish stocks ahead of a seasonal rise in demand from the end of the third quarter.The country’s muted demand for overseas base oils supplies in recent weeks suggested that buyers were comfortable holding off any such moves to replenish stocks.The preference to hold back raised the prospect of squeezing demand into a smaller time period in order to secure sufficient supplies before the expected pick-up in demand..India’s June lube demand rises.India's June base oils imports fall.S Korea’s June base oil exports to UAE, India fall
India’s base oils supply lagged demand in June for the first time in three months, partially reversing a large build-up of surplus supplies in April and May.The dynamic raised the prospect of leaving blenders’ stocks more balanced heading into the third quarter of the year.Base oils demand showed signs of staying muted so far in the third quarter even with the drop in stocks in June.The muted demand coincided with a likely fall in the country’s domestic base oils output in July because of plant maintenance work.The maintenance work was scheduled to take place from mid-June to end-July.India’s base oils output of 113,000 tonnes in June fell from 125,000 tonnes the previous month, government data showed.The volume was still higher than usual and the second-highest in six months.The firm volume suggested that any plant maintenance began nearer the end of June, with the largest impact on output likely to have taken place in the month of July.The lower output in June, combined with an even sharper fall in base oils imports, cut India’s total base oils supply to less than 420,000 tonnes that month.The volume was down from more than 510,000 tonnes in May.Supply faced the prospect of staying lower in July unless imports rebounded sharply.India’s total demand, or domestic consumption and exports combined, rose to more than 450,000 tonnes in June, from close to 390,000 tonnes the previous month.The volume exceeded supply by almost 40,000 tonnes.The country’s lube demand typically rises in the month of July from June before slowing in August.Any repeat of that trend this year could keep India’s supply-demand balance relatively tight at the start of the third quarter of the year.The dynamic raised the prospect of a stronger pick-up in requirements for supplies to replenish stocks ahead of a seasonal rise in demand from the end of the third quarter.The country’s muted demand for overseas base oils supplies in recent weeks suggested that buyers were comfortable holding off any such moves to replenish stocks.The preference to hold back raised the prospect of squeezing demand into a smaller time period in order to secure sufficient supplies before the expected pick-up in demand..India’s June lube demand rises.India's June base oils imports fall.S Korea’s June base oil exports to UAE, India fall