US base oils supply lagged demand for a third month in March, helping to trim the country’s stocks.Unusually low demand curbed the impact of lower supply, slowing the clear-out of a large supply overhang.Total supply of 5.29mn bl (745,000t) in March fell from 5.43mn bl in February to a twenty-five-month low.Total demand of 5.86mn bl in March rose from 5.44mn bl the previous month but remained lower than usual.Demand fell below the 6mn bl level five times in the twenty-two months to October 2022.It held below that level in four of the five months since then.The supply shortfall versus demand totaled 892,000bl in the first quarter of the year.The volume was smaller than the supply surplus of 1.36mn bl over demand just in the month of December.With supply lagging demand, the US’ total base oils and lube stocks fell in March to a four-month low of 12.46mn bl..US’ March base oils supply falls.Contact us for more information about the data for these stories
US base oils supply lagged demand for a third month in March, helping to trim the country’s stocks.Unusually low demand curbed the impact of lower supply, slowing the clear-out of a large supply overhang.Total supply of 5.29mn bl (745,000t) in March fell from 5.43mn bl in February to a twenty-five-month low.Total demand of 5.86mn bl in March rose from 5.44mn bl the previous month but remained lower than usual.Demand fell below the 6mn bl level five times in the twenty-two months to October 2022.It held below that level in four of the five months since then.The supply shortfall versus demand totaled 892,000bl in the first quarter of the year.The volume was smaller than the supply surplus of 1.36mn bl over demand just in the month of December.With supply lagging demand, the US’ total base oils and lube stocks fell in March to a four-month low of 12.46mn bl..US’ March base oils supply falls.Contact us for more information about the data for these stories
