The US’ base oils and lube demand fell to a six-month low in August as a seasonal dip in domestic consumption outweighed steadier exports.Domestic base oils and lube consumption of 2.30mn bl (324,000t) in August fell by 45pc from a year earlier to the third-lowest level on record, according to the EIA.The lowest level on record had been earlier this year.The drop in demand coincided with a rise in US base oils producers’ posted prices in August for the first time in more than a year.US base oils and lube exports held firm in August versus year-earlier levels, cushioning the slowdown in domestic demand.Overseas shipments still fell from the month of July amid less workable arbitrage opportunities.The lower exports and domestic consumption cut total demand to 5.62mn bl in August.The volume fell from more than 6.50mn bl the previous month to the lowest since February..US’ August base oils supply falls
The US’ base oils and lube demand fell to a six-month low in August as a seasonal dip in domestic consumption outweighed steadier exports.Domestic base oils and lube consumption of 2.30mn bl (324,000t) in August fell by 45pc from a year earlier to the third-lowest level on record, according to the EIA.The lowest level on record had been earlier this year.The drop in demand coincided with a rise in US base oils producers’ posted prices in August for the first time in more than a year.US base oils and lube exports held firm in August versus year-earlier levels, cushioning the slowdown in domestic demand.Overseas shipments still fell from the month of July amid less workable arbitrage opportunities.The lower exports and domestic consumption cut total demand to 5.62mn bl in August.The volume fell from more than 6.50mn bl the previous month to the lowest since February..US’ August base oils supply falls
