Thailand’s base oils supply rose to a four-month high in November as a pick-up in imports countered lower-than-usual base oils production.Total base oils output of 52,900 kilolitres (47,000t) in November edged up from 51,900kl the previous month and from 50,900kl in September, government data showed.The volume remained down from typical levels of more than 56,500 kl/month in first-half 2023.The country’s Group I base oils output stayed lower than usual even in the face of firmer regional base oils values relative to feedstock and competing fuel prices.The lower output added to a drop in Group I base oils supply in the Asia-Pacific region following the closure of a Group I plant in Japan in October.The tighter supply raised the prospect of curbing surplus Group I base oils shipments for export to more distant markets like India and Mideast Gulf.A pick-up in Thailand’s base oils imports cushioned the impact of the lower domestic output.Imports got a boost from a rebound in shipments from South Korea to a seven-month high of 18,000kl.The rise in imports lifted Thailand’s total base oils supply to close to 80,000kl in November, up from less than 72,000kl in each of the previous three months..Thailand Oct base oil output stays lower.Thailand’s Oct supply exceeds demand
Thailand’s base oils supply rose to a four-month high in November as a pick-up in imports countered lower-than-usual base oils production.Total base oils output of 52,900 kilolitres (47,000t) in November edged up from 51,900kl the previous month and from 50,900kl in September, government data showed.The volume remained down from typical levels of more than 56,500 kl/month in first-half 2023.The country’s Group I base oils output stayed lower than usual even in the face of firmer regional base oils values relative to feedstock and competing fuel prices.The lower output added to a drop in Group I base oils supply in the Asia-Pacific region following the closure of a Group I plant in Japan in October.The tighter supply raised the prospect of curbing surplus Group I base oils shipments for export to more distant markets like India and Mideast Gulf.A pick-up in Thailand’s base oils imports cushioned the impact of the lower domestic output.Imports got a boost from a rebound in shipments from South Korea to a seven-month high of 18,000kl.The rise in imports lifted Thailand’s total base oils supply to close to 80,000kl in November, up from less than 72,000kl in each of the previous three months..Thailand Oct base oil output stays lower.Thailand’s Oct supply exceeds demand