China’s Group II base oils output fell to a seven-month low in October despite plant maintenance work in Taiwan and an expected seasonal pick-up in domestic lube demand.Group II base oils output of little more than 260,000t in October fell from more than 272,000t the previous month to the lowest since March, OilChem China data showed.The volume was similar to average output levels over the past year, despite the removal of Covid-related restrictions in the country from the end of last year.The volume remained down from average levels of more than 470,000 t/month in 2021.The drop in output coincided with the prospect of a slump in Group II base oils shipments from Taiwan to China in October, adding to the drop in supply.China’s domestic Group II light-grade base oils prices remained unusually weak relative to fob Asia cargo prices in October.The low prices kept shut the arbitrage to move shipments to China, despite its lower supply..Asia Sept base oils exports to India rise.Taiwan’s Sept base oil exports hold firm
