Europe’s Group III base oils supply rose to a multi-year high in March as a pick-up in supplies from Mideast Gulf and Asia coincided with steady volumes within the region.Supply of more than 190,000t in March rose from less than 120,000t the previous month, government and port data showed.The volume rose from typical levels of around 140,000 t/month over the past year and exceeded year-earlier levels of around 189,000t.The pick-up in supplies coincided with a gradual recovery in Europe’s lubricating oil consumption and came ahead of Group III plant maintenance work in the region in the second quarter of the year.Europe’s demand for Group III base oils remained firm even with lower-than-usual lube consumption so far this year..Europe’s March premium-grade imports from Mideast Gulf rise.Contact us for more information about the data for these stories
Europe’s Group III base oils supply rose to a multi-year high in March as a pick-up in supplies from Mideast Gulf and Asia coincided with steady volumes within the region.Supply of more than 190,000t in March rose from less than 120,000t the previous month, government and port data showed.The volume rose from typical levels of around 140,000 t/month over the past year and exceeded year-earlier levels of around 189,000t.The pick-up in supplies coincided with a gradual recovery in Europe’s lubricating oil consumption and came ahead of Group III plant maintenance work in the region in the second quarter of the year.Europe’s demand for Group III base oils remained firm even with lower-than-usual lube consumption so far this year..Europe’s March premium-grade imports from Mideast Gulf rise.Contact us for more information about the data for these stories
