US base oils and lube demand got a seasonal boost in October from the previous month that outpaced a smaller rise in the country’s base oils supplies.Base oils and lube stocks fell in response to a fourteen-month low.The lower stocks at the start of the fourth quarter, and an open arbitrage to overseas markets, raised the prospect of curbing the size of a build-up of surplus base oils supplies at year-end.Domestic base oils and lube consumption of 2.92mn bl (411,300t) in October rebounded from 2.42mn bl the previous month but still fell by 18pc from year-earlier levels, government data showed.Demand fell from year-earlier levels even as a round of refinery posted price-increases in October incentivized blenders to bring forward their procurement plans before the price-increases took effect.US base oils and lube exports of close to 3.20mn bl in October fell from the previous month but rose by 10pc from year-earlier levels.Total demand, or domestic consumption and exports combined, came to 6.08mn bl in October, up from 5.87mn bl the previous month.The 210,000bl month-on-month increase in demand outpaced the 60,000bl rise in supply in October.With demand outpacing supply for the fifth time in six months, US base oils and lube stocks extended their fall to 11.24mn bl in October.The volume was down from more than 12mn bl during the same month a year earlier..US’ Oct base oils supply stays low
US base oils and lube demand got a seasonal boost in October from the previous month that outpaced a smaller rise in the country’s base oils supplies.Base oils and lube stocks fell in response to a fourteen-month low.The lower stocks at the start of the fourth quarter, and an open arbitrage to overseas markets, raised the prospect of curbing the size of a build-up of surplus base oils supplies at year-end.Domestic base oils and lube consumption of 2.92mn bl (411,300t) in October rebounded from 2.42mn bl the previous month but still fell by 18pc from year-earlier levels, government data showed.Demand fell from year-earlier levels even as a round of refinery posted price-increases in October incentivized blenders to bring forward their procurement plans before the price-increases took effect.US base oils and lube exports of close to 3.20mn bl in October fell from the previous month but rose by 10pc from year-earlier levels.Total demand, or domestic consumption and exports combined, came to 6.08mn bl in October, up from 5.87mn bl the previous month.The 210,000bl month-on-month increase in demand outpaced the 60,000bl rise in supply in October.With demand outpacing supply for the fifth time in six months, US base oils and lube stocks extended their fall to 11.24mn bl in October.The volume was down from more than 12mn bl during the same month a year earlier..US’ Oct base oils supply stays low
