US base oils and lube demand rose in July for the second time in three months on the back of firm domestic consumption and high export volumes.Total domestic base oils and lube demand of 2.92mn bl (411,000t) in July rose from 2.86mn bl in June and by 33pc from year-earlier levels.Consumption of 19.85mn bl in the first seven months of the year was still down 16pc from 23.74mn bl during the same period last year, according to the EIA.The contraction narrowed from a 21pc shortfall in the first half of the year.Demand got further support from a steady flow of higher-than-usual base oils and lube exports since March.The wave of exports accounted for more than half of the US’ total demand in July for a fifth month.Exports as a share of demand had mostly held below 50pc of the total throughout most of 2022.The US’ total demand, or domestic consumption and exports combined, rose to more than 6.50mn bl in July.The volume rose from 6.11mn bl in June and by 8pc from a year earlier. .US’ July base oils output rises
US base oils and lube demand rose in July for the second time in three months on the back of firm domestic consumption and high export volumes.Total domestic base oils and lube demand of 2.92mn bl (411,000t) in July rose from 2.86mn bl in June and by 33pc from year-earlier levels.Consumption of 19.85mn bl in the first seven months of the year was still down 16pc from 23.74mn bl during the same period last year, according to the EIA.The contraction narrowed from a 21pc shortfall in the first half of the year.Demand got further support from a steady flow of higher-than-usual base oils and lube exports since March.The wave of exports accounted for more than half of the US’ total demand in July for a fifth month.Exports as a share of demand had mostly held below 50pc of the total throughout most of 2022.The US’ total demand, or domestic consumption and exports combined, rose to more than 6.50mn bl in July.The volume rose from 6.11mn bl in June and by 8pc from a year earlier. .US’ July base oils output rises
