China’s March Grp I base oil output rises

China’s Group I base oils output rose in March to the highest in more than two years even as the country’s total output stayed low.

Output of Group I base oils rose to more than 80,000t in March, up from less than 78,000t the previous month, OilChem China data showed.

Output rose for a fifth month from year-earlier levels, climbing 17pc from around 70,000t in March 2022.

China’s domestic Group I base oils prices were similar to or at a premium to Group II prices in recent months.