Feb base oil imports from Qatar fall

The delivery of base oils from Qatar to key global markets fell in February close to their lowest in more than two years.

The drop in supplies came at a time when premium-grade base oils supply remained tight and prices at elevated levels.

The key markets of US, Europe and Asia-Pacific took delivery of around 100,300t in February, government data showed.

The volume fell from more than 180,000t in January to the lowest since October 2021, when deliveries fell to 100,200t.

The lowest volume before then had been in mid-2020, when monthly shipments slumped to less than 65,000t as lockdowns throughout the world slashed demand.