Thailand’s base oils output rose to a three-month high in August even amid falling regional prices and weak overseas demand.Base oils output of 60,580 kilolitres (53,660t) in August rose from 52,950kl the previous month to the highest since May, government data showed. Output still fell 2pc from year-earlier levels. The contraction was the fourth in as many months. .The year-on-year drop in production cut total output to 452,350kl in the first eight months of the year. The volume was down 7pc from 484,430kl during the same time a year earlier and the lowest for that period in five years.Output had risen last year to tap unusually high base oils margins amid tight supply and strong demand in the Asia-Pacific market. Those strong fundamentals began to change from the third quarter of last year as supply tightness eased.Demand slowed this year because of unexpectedly weak base oils and lube consumption in the Chinese market..China's August base oils demand falls.The weaker fundamentals left base oils prices struggling to keep pace with higher crude and diesel prices.Base oils prices weakened further in July and August as a seasonal slowdown in demand in outlets like India compounded the impact of slower Chinese consumption.Thailand’s base oils exports fell sharply in August in response to weak regional demand and low prices.The country’s base oils production still rose well above its typical output level over the past year.Production rose in August from the previous month on the back of a 35pc surge in output at IRPC’s 320,000 t/yr Group I plant to a nine-month high.The rise in output coincided with a pick-up in Thailand’s base oils imports in August to a three-month high. Imports got a boost from unusually high shipments from Japan.Higher production and imports lifted Thailand’s total supply in August to more than 100,000kl. The volume was up from typical levels of less than 90,000 kl/month over the past year and the second highest in nine months..Thailand’s August base oils imports rise
Thailand’s base oils output rose to a three-month high in August even amid falling regional prices and weak overseas demand.Base oils output of 60,580 kilolitres (53,660t) in August rose from 52,950kl the previous month to the highest since May, government data showed. Output still fell 2pc from year-earlier levels. The contraction was the fourth in as many months. .The year-on-year drop in production cut total output to 452,350kl in the first eight months of the year. The volume was down 7pc from 484,430kl during the same time a year earlier and the lowest for that period in five years.Output had risen last year to tap unusually high base oils margins amid tight supply and strong demand in the Asia-Pacific market. Those strong fundamentals began to change from the third quarter of last year as supply tightness eased.Demand slowed this year because of unexpectedly weak base oils and lube consumption in the Chinese market..China's August base oils demand falls.The weaker fundamentals left base oils prices struggling to keep pace with higher crude and diesel prices.Base oils prices weakened further in July and August as a seasonal slowdown in demand in outlets like India compounded the impact of slower Chinese consumption.Thailand’s base oils exports fell sharply in August in response to weak regional demand and low prices.The country’s base oils production still rose well above its typical output level over the past year.Production rose in August from the previous month on the back of a 35pc surge in output at IRPC’s 320,000 t/yr Group I plant to a nine-month high.The rise in output coincided with a pick-up in Thailand’s base oils imports in August to a three-month high. Imports got a boost from unusually high shipments from Japan.Higher production and imports lifted Thailand’s total supply in August to more than 100,000kl. The volume was up from typical levels of less than 90,000 kl/month over the past year and the second highest in nine months..Thailand’s August base oils imports rise
