India’s base oils production held firm in February, extending a period of high output since the middle of last year.Output of 104,000t in February edged down from 105,000t the previous month, government data showed. Production of 616,000t in the six months to February were up slightly from 601,000t during the same period a year earlier..The country’s base oils production has rebounded from a steep drop in the second quarter of last year. The slowdown reflected the impact of some scheduled plant maintenance during that time.That period during the second quarter also coincided with tight availability of supplies from other overseas sources, especially of Group I base oils. Global base oil prices surged in response as buyers throughout Asia-Pacific competed for the limited supplies that were available.Global base oil prices have surged again in recent weeks because of concern about tighter availability. The rising prices, high freight rates and tighter supply have boosted the attraction for Indian buyers to secure supplies from the country’s domestic producers.
India’s base oils production held firm in February, extending a period of high output since the middle of last year.Output of 104,000t in February edged down from 105,000t the previous month, government data showed. Production of 616,000t in the six months to February were up slightly from 601,000t during the same period a year earlier..The country’s base oils production has rebounded from a steep drop in the second quarter of last year. The slowdown reflected the impact of some scheduled plant maintenance during that time.That period during the second quarter also coincided with tight availability of supplies from other overseas sources, especially of Group I base oils. Global base oil prices surged in response as buyers throughout Asia-Pacific competed for the limited supplies that were available.Global base oil prices have surged again in recent weeks because of concern about tighter availability. The rising prices, high freight rates and tighter supply have boosted the attraction for Indian buyers to secure supplies from the country’s domestic producers.
