India’s March base oils imports stay low

India’s base oils imports held steady at lower levels in March, with healthy availability from domestic and regional refiners curbing blenders’ need to build larger stocks.

Imports of more than 250,000t in March slipped from close to 260,000t the previous month, provisional customs data showed.

The volume stayed within a 240,000-280,000 t/month range that the country's imports mostly held in over most of the last eight months.

The volume was down from typical levels of more than 340,000 t/month in first-half 2022.

Imports fell as blenders covered more of their requirements with supplies from domestic producers. They also slashed their imports of very-light grade base oils.