Thailand IRPC’s Feb base oil exports rise

Thai refiner IRPC’s base oils exports rose in February to the highest in more than a year even as its output fell.

The refiner’s base oils exports of 24,530 kilolitres (21,730t) in February rose from 21,210kl the previous month and by 69pc from year-earlier levels, government data showed.

Its exports extended their rise even as the refiner’s base oils output fell in February to a three-month low.

The diverging trends raised the prospect of cutting the refiner’s stocks.