Global base oils supply fell in February to its lowest since mid-2020, helping to ease an overhang of surplus volumes in Europe especially.Total base oils supply of around 1.80mn t in February fell from a six-month high of close to 2.10mn t the previous month.The rise in global supply in January had contrasted with weaker-than-usual lube demand, magnifying the impact of the surplus volumes.The fall in global supply in February helped to clear some of the surplus.Global base oils prices began to rebound strongly relative to diesel from late January and extended their rise through the second quarter of the year.The global base oils volume was derived by combining supplies in the Americas, Europe and Asia-Pacific. It excluded China and Group III producers in the Mideast Gulf.Including those markets, supply of around 2.24mn t in February fell from around 2.70mn t the previous month..Americas’ Feb base oils supply falls.Contact us for more information about the data for these stories
Global base oils supply fell in February to its lowest since mid-2020, helping to ease an overhang of surplus volumes in Europe especially.Total base oils supply of around 1.80mn t in February fell from a six-month high of close to 2.10mn t the previous month.The rise in global supply in January had contrasted with weaker-than-usual lube demand, magnifying the impact of the surplus volumes.The fall in global supply in February helped to clear some of the surplus.Global base oils prices began to rebound strongly relative to diesel from late January and extended their rise through the second quarter of the year.The global base oils volume was derived by combining supplies in the Americas, Europe and Asia-Pacific. It excluded China and Group III producers in the Mideast Gulf.Including those markets, supply of around 2.24mn t in February fell from around 2.70mn t the previous month..Americas’ Feb base oils supply falls.Contact us for more information about the data for these stories
