Thai Lube’s May base oils output rises

Thai Oil’s base oils unit saw output edge up to a four-month high in May even as domestic demand fell.

The trend triggered a rise in its exports to the highest in more than a year.

The unit’s base oils output of 21,310 kilolitres (18,880t) in May rose from 20,700kl the previous month, government data showed.

Output has mostly held close to that level since the end of last year.

The firm base oils output contrasted with lower domestic demand in Thailand.

Thai Lube’s base oils exports rose in response, climbing to 12,000kl in May.

The volume rose from an already-high 10,700kl the previous month and accounted for more than 55pc of its total output. The share was the highest in seven months.