Global base oils supply fell to a three-month low in May as plant-maintenance work in Europe and Asia countered a recovery in output in the Americas.Total supply of around 2.05mn t in May fell from 2.11mn t the previous month and by 2pc from year-earlier levels.The 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 edged up to more than 2.75mn t in May, from less than 2.70mn t the previous month.Total supply of around 13.20mn t in the first five months of the year was down 3pc from more than 13.50mn t during the same period a year earlier.Supply fell mostly because of a sustained fall in output in the Americas market over the past year.Global base oils prices rose relative to crude and diesel in the three months to May, at a time of year when lube demand typically gets a seasonal boost and supply falls because of maintenance work. .Americas’ May base oils supply rises .Europe’s May base oils supply falls.Asia’s June base oils supply falls
Global base oils supply fell to a three-month low in May as plant-maintenance work in Europe and Asia countered a recovery in output in the Americas.Total supply of around 2.05mn t in May fell from 2.11mn t the previous month and by 2pc from year-earlier levels.The 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 edged up to more than 2.75mn t in May, from less than 2.70mn t the previous month.Total supply of around 13.20mn t in the first five months of the year was down 3pc from more than 13.50mn t during the same period a year earlier.Supply fell mostly because of a sustained fall in output in the Americas market over the past year.Global base oils prices rose relative to crude and diesel in the three months to May, at a time of year when lube demand typically gets a seasonal boost and supply falls because of maintenance work. .Americas’ May base oils supply rises .Europe’s May base oils supply falls.Asia’s June base oils supply falls
