Global base oils supply fell to a three-year low in June as overlapping plant maintenance work in the Americas, Europe and Asia triggered a slump in output.Weak Chinese demand and downward pressure on Group III base oils prices compounded the fall in supply.Base oils supply in the Americas, Europe and Asia combined fell to less than 1.80mn t in June, government and industry data showed.The volume fell from around 2.05mn t in May to the lowest since June 2020.Output fell at that time as lockdowns throughout the world slashed global base oils demand.Including China and the Mideast Gulf, supply of around 2.40mn t in June fell from close to 2.80mn t the previous month.Supply of more than 15.50mn t in first-half 2023 fell from around 16.0mn t during the same period last year and from more than 17mn t during the same period in first-half 2021. .Americas’ June base oils supply falls.Asia’s June base oils supply falls
Global base oils supply fell to a three-year low in June as overlapping plant maintenance work in the Americas, Europe and Asia triggered a slump in output.Weak Chinese demand and downward pressure on Group III base oils prices compounded the fall in supply.Base oils supply in the Americas, Europe and Asia combined fell to less than 1.80mn t in June, government and industry data showed.The volume fell from around 2.05mn t in May to the lowest since June 2020.Output fell at that time as lockdowns throughout the world slashed global base oils demand.Including China and the Mideast Gulf, supply of around 2.40mn t in June fell from close to 2.80mn t the previous month.Supply of more than 15.50mn t in first-half 2023 fell from around 16.0mn t during the same period last year and from more than 17mn t during the same period in first-half 2021. .Americas’ June base oils supply falls.Asia’s June base oils supply falls
