US base oils and lube demand outpaced supply in May even as domestic base oils output surged.Total demand, or domestic consumption and exports combined, rose in May to a eleven-month high of 7.10mn bl (1mn t).Total supply, or domestic output and imports combined, rose in May to a seven-month high of 6.55mn bl.The 554,000bl shortfall of supply versus demand almost fully reversed a 586,000bl surplus the previous month.Supply had lagged demand in the first three months of the year, mostly because of plant maintenance work that outweighed unusually weak domestic demand.Supply lagged demand in May despite the recovery in domestic base oils output following the completion of plant maintenance work..US’ May base oils/lube demand rises
US base oils and lube demand outpaced supply in May even as domestic base oils output surged.Total demand, or domestic consumption and exports combined, rose in May to a eleven-month high of 7.10mn bl (1mn t).Total supply, or domestic output and imports combined, rose in May to a seven-month high of 6.55mn bl.The 554,000bl shortfall of supply versus demand almost fully reversed a 586,000bl surplus the previous month.Supply had lagged demand in the first three months of the year, mostly because of plant maintenance work that outweighed unusually weak domestic demand.Supply lagged demand in May despite the recovery in domestic base oils output following the completion of plant maintenance work..US’ May base oils/lube demand rises
