Europe’s Group I base oils supply stayed lower than usual in September even as it rose from the previous month.The region’s base oils supply of more than 160,000t in September rose from close to 150,000t the previous month, government data showed.The higher volume mostly reflected a pick-up in output in Spain and Italy.Supply still fell by 3pc in September and for a fifth month from year-earlier levels.The slowdown cut the region's total supply to less than 1.50mn t in the first nine months of the year.The volume was down from more than 1.55mn t during the same period last year and from more than 2.0mn t during the same period in 2021.The base oils volume was derived from five key suppliers in Europe combined with imports.Europe’s Group I base oils prices surged in first-half 2022 in response to the tighter supply.The region’s Group I prices also rose in first-half 2023, but much less sharply even with a further drop in supply..Europe’s Sept Group II supply holds firm
Europe’s Group I base oils supply stayed lower than usual in September even as it rose from the previous month.The region’s base oils supply of more than 160,000t in September rose from close to 150,000t the previous month, government data showed.The higher volume mostly reflected a pick-up in output in Spain and Italy.Supply still fell by 3pc in September and for a fifth month from year-earlier levels.The slowdown cut the region's total supply to less than 1.50mn t in the first nine months of the year.The volume was down from more than 1.55mn t during the same period last year and from more than 2.0mn t during the same period in 2021.The base oils volume was derived from five key suppliers in Europe combined with imports.Europe’s Group I base oils prices surged in first-half 2022 in response to the tighter supply.The region’s Group I prices also rose in first-half 2023, but much less sharply even with a further drop in supply..Europe’s Sept Group II supply holds firm
