US base oils and lube supply lagged demand in June for the fifth time in six months as falling output and imports more than matched weaker domestic consumption.Total demand, or domestic consumption and exports combined, fell to 6.11mn bl (860,600t) in June, from 7.10mn bl the previous month, according to the EIA.Relatively firm export volumes cushioned the steep fall in domestic consumption.Lower supply matched the sharp slowdown in demand.Total supply, or domestic output and imports combined, fell to 5.54mn bl in June, from a seven-month high of 6.55mn bl in May.Supply dipped as additional plant maintenance work in June cut base oils output.The persistent supply shortfall cut US base oils and lube stocks in June to a seven-month low of 11.93mn bl..US’ June base oils output falls
US base oils and lube supply lagged demand in June for the fifth time in six months as falling output and imports more than matched weaker domestic consumption.Total demand, or domestic consumption and exports combined, fell to 6.11mn bl (860,600t) in June, from 7.10mn bl the previous month, according to the EIA.Relatively firm export volumes cushioned the steep fall in domestic consumption.Lower supply matched the sharp slowdown in demand.Total supply, or domestic output and imports combined, fell to 5.54mn bl in June, from a seven-month high of 6.55mn bl in May.Supply dipped as additional plant maintenance work in June cut base oils output.The persistent supply shortfall cut US base oils and lube stocks in June to a seven-month low of 11.93mn bl..US’ June base oils output falls