The Netherlands’ base oils and lube output held firm in November, while exports slipped to a nine-month low.Rising supply and a drop in shipments coincided with a regional slowdown in demand and falling base oils prices.The rise in supply also contrasted with a drop in base oils output in other regional markets like Italy and Spain..Spain's November base oils supply falls.The Netherlands’ base oils and lube stocks still fell in November amid a pick-up in refinery consumption.The country’s refinery consumption rose previously during periods of plant maintenance work.The rise in consumption in November coincided with the shipment of a large cargo to Singapore.Refiners in other markets cut base oils output and increased diesel production in November amid firm middle distillates prices.The fall in the Netherlands’ net supply trimmed further the volume of surplus base oils supplies in Europe during the final months of last year.European base oils prices still extended their fall this year because of weak demand. Buyers’ reluctance to replenish stocks magnified the impact of any surplus supplies.The Netherlands’ base oils and lube output of 91,000t in November edged down from 94,000t the previous month, government data showed..Output remained close to average levels of 93,000 t/month in the five months to November and well above production levels of less than 65,000 t/month in the first half of last year.The lower output in the first half of the year had coincided with firmer lubricating oil consumption in Europe and surging base oils prices.The rise in output during the second half of the year coincided with a slowdown in regional consumption and falling base oils prices.Lube demand remained firmer in markets outside Europe but still slowed in the face of weakening economic growth.The weaker demand complicated moves to clear surplus supplies in those other markets.The Netherlands’ base oils exports trended lower from September, mirroring the slowdown.Its base oils shipments to Spain fell in October to a five-month low. Its shipments to South Africa fell sharply in October and November.The rise in the Netherlands’ refinery consumption of base oils and lubricants in November balanced out the muted demand and cut the country’s stocks to a thirteen-month low..Italy’s November base oils output falls
The Netherlands’ base oils and lube output held firm in November, while exports slipped to a nine-month low.Rising supply and a drop in shipments coincided with a regional slowdown in demand and falling base oils prices.The rise in supply also contrasted with a drop in base oils output in other regional markets like Italy and Spain..Spain's November base oils supply falls.The Netherlands’ base oils and lube stocks still fell in November amid a pick-up in refinery consumption.The country’s refinery consumption rose previously during periods of plant maintenance work.The rise in consumption in November coincided with the shipment of a large cargo to Singapore.Refiners in other markets cut base oils output and increased diesel production in November amid firm middle distillates prices.The fall in the Netherlands’ net supply trimmed further the volume of surplus base oils supplies in Europe during the final months of last year.European base oils prices still extended their fall this year because of weak demand. Buyers’ reluctance to replenish stocks magnified the impact of any surplus supplies.The Netherlands’ base oils and lube output of 91,000t in November edged down from 94,000t the previous month, government data showed..Output remained close to average levels of 93,000 t/month in the five months to November and well above production levels of less than 65,000 t/month in the first half of last year.The lower output in the first half of the year had coincided with firmer lubricating oil consumption in Europe and surging base oils prices.The rise in output during the second half of the year coincided with a slowdown in regional consumption and falling base oils prices.Lube demand remained firmer in markets outside Europe but still slowed in the face of weakening economic growth.The weaker demand complicated moves to clear surplus supplies in those other markets.The Netherlands’ base oils exports trended lower from September, mirroring the slowdown.Its base oils shipments to Spain fell in October to a five-month low. Its shipments to South Africa fell sharply in October and November.The rise in the Netherlands’ refinery consumption of base oils and lubricants in November balanced out the muted demand and cut the country’s stocks to a thirteen-month low..Italy’s November base oils output falls
