Brazil’s base oils supply-demand fundamentals stayed unusually balanced in May, raising the prospect of steady demand for shipments of US origin.Base oils supply of more than 111,000mᶟ (98,600t) in May rose from 109,000mᶟ the previous month, government data showed.Demand of 100,750mᶟ in May rose more steeply, from 88,200mᶟ in April.The 2,910mᶟ supply surplus in May narrowed from an already-low 11,700mᶟ the previous month. Supply had lagged demand by more than 21,000mᶟ in March.Brazil’s supply surplus also stayed lower than usual in early 2022. The tighter supply at that time helped to clear a surge in surplus volumes from end-2021.The country’s supply fundamentals stayed tight this year even with no such surplus overhang to clear at the start of the year. .Brazil’s May lube demand rises
Brazil’s base oils supply-demand fundamentals stayed unusually balanced in May, raising the prospect of steady demand for shipments of US origin.Base oils supply of more than 111,000mᶟ (98,600t) in May rose from 109,000mᶟ the previous month, government data showed.Demand of 100,750mᶟ in May rose more steeply, from 88,200mᶟ in April.The 2,910mᶟ supply surplus in May narrowed from an already-low 11,700mᶟ the previous month. Supply had lagged demand by more than 21,000mᶟ in March.Brazil’s supply surplus also stayed lower than usual in early 2022. The tighter supply at that time helped to clear a surge in surplus volumes from end-2021.The country’s supply fundamentals stayed tight this year even with no such surplus overhang to clear at the start of the year. .Brazil’s May lube demand rises
