Thailand’s lube demand rose for a sixth month in January, cutting further the supply of bases oils available for overseas markets.The country’s strong consumption also raised the prospect of extending a revival in lube demand throughout the southeast Asia region since the middle of last year.Firmer demand coincided with signs of more limited surplus base oils supply in the Asia-Pacific market during the first few months of this year.Plant maintenance work in Thailand in January added to the tighter availability of supplies.Thailand’s lube consumption of 42,200 kilolitres (37,400t) in January rose by 19pc from year-earlier levels to a ten-month high, government data showed.The country’s lube demand typically peaks in the month of March each year before the Songkran festival in April.Thailand’s passenger-car motor oil (PCMO) demand rose by 26pc in January, outpacing still-firm demand growth for heavy-duty engine oils and industrial oils.The stronger rise in PCMO consumption coincided with firmer growth in the country’s services sector amid an ongoing recovery in the tourism industry.PTT Oil and Retail was Thailand’s largest lube supplier in January for the first time in three months. Shell Company of Thailand was the second largest.Thailand’s rising lube demand coincided with a drop in the country’s base oils output in January to a fourteen-month low.The diverging trends cut the availability of base oils supplies available for export.The country’s base oils exports duly fell in January to the lowest since late-2022.The drop in exports added to the tightening availability of Group I base oils in the Asia-Pacific market since late last year.Asia’s firm Group I base oils prices reflected the tighter supply fundamentals, ICIS data showed.Group I prices rose strongly relative to regional gasoil prices since the fourth quarter of last year. .Thailand’s January base oils output falls
Thailand’s lube demand rose for a sixth month in January, cutting further the supply of bases oils available for overseas markets.The country’s strong consumption also raised the prospect of extending a revival in lube demand throughout the southeast Asia region since the middle of last year.Firmer demand coincided with signs of more limited surplus base oils supply in the Asia-Pacific market during the first few months of this year.Plant maintenance work in Thailand in January added to the tighter availability of supplies.Thailand’s lube consumption of 42,200 kilolitres (37,400t) in January rose by 19pc from year-earlier levels to a ten-month high, government data showed.The country’s lube demand typically peaks in the month of March each year before the Songkran festival in April.Thailand’s passenger-car motor oil (PCMO) demand rose by 26pc in January, outpacing still-firm demand growth for heavy-duty engine oils and industrial oils.The stronger rise in PCMO consumption coincided with firmer growth in the country’s services sector amid an ongoing recovery in the tourism industry.PTT Oil and Retail was Thailand’s largest lube supplier in January for the first time in three months. Shell Company of Thailand was the second largest.Thailand’s rising lube demand coincided with a drop in the country’s base oils output in January to a fourteen-month low.The diverging trends cut the availability of base oils supplies available for export.The country’s base oils exports duly fell in January to the lowest since late-2022.The drop in exports added to the tightening availability of Group I base oils in the Asia-Pacific market since late last year.Asia’s firm Group I base oils prices reflected the tighter supply fundamentals, ICIS data showed.Group I prices rose strongly relative to regional gasoil prices since the fourth quarter of last year. .Thailand’s January base oils output falls
