Europe’s Group III base oils supply fell to a five-month low in July as a slowdown in shipments from the Mideast Gulf outweighed a surge in supplies from Spain.Total base oils supply of less than 120,000t in July fell from more than 135,000t the previous month, government and port data showed.Even with the slowdown, supply of more than 980,000t in the first seven months of the year rose from around 950,000t during the same period last year.Supply rose as a wave of shipments from the Mideast Gulf more than countered a slowdown in supply from Spain during the second quarter of the year.That trend reversed in July, when supply from Spain rebounded following the completion of plant-maintenance work the previous month.Imports from the Mideast Gulf by contrast slumped to a three-year low in July in the face of slack demand and falling Group III prices..Europe’s July premium-grade imports from Mideast Gulf fall
Europe’s Group III base oils supply fell to a five-month low in July as a slowdown in shipments from the Mideast Gulf outweighed a surge in supplies from Spain.Total base oils supply of less than 120,000t in July fell from more than 135,000t the previous month, government and port data showed.Even with the slowdown, supply of more than 980,000t in the first seven months of the year rose from around 950,000t during the same period last year.Supply rose as a wave of shipments from the Mideast Gulf more than countered a slowdown in supply from Spain during the second quarter of the year.That trend reversed in July, when supply from Spain rebounded following the completion of plant-maintenance work the previous month.Imports from the Mideast Gulf by contrast slumped to a three-year low in July in the face of slack demand and falling Group III prices..Europe’s July premium-grade imports from Mideast Gulf fall
