The Netherlands’ base oils supply exceeded demand in July for the first time in three months as exports fell to an eight-month low.The Netherlands’ supply, or domestic output and imports combined, rose to 308,000t in July, up from 301,000t the previous month, government data showed.The country’s demand, or domestic consumption and exports combined, fell to less than 270,000t in July, from more than 310,000t the previous month.Demand fell mostly because of a fall in base oils exports at a time when the European market faced a seasonal slowdown in lube consumption.Exports to the Mideast Gulf also fell, partially countering steady flows to Africa.The slowdown in demand prompted a rise in the Netherlands’ net supply to 40,000t in July. Supply had lagged demand in each of the previous two months.The surplus boosted the country’s total stocks to more than 175,000t in July. The volume was the highest in more than three years. .Netherlands’ July base oils supply rises
The Netherlands’ base oils supply exceeded demand in July for the first time in three months as exports fell to an eight-month low.The Netherlands’ supply, or domestic output and imports combined, rose to 308,000t in July, up from 301,000t the previous month, government data showed.The country’s demand, or domestic consumption and exports combined, fell to less than 270,000t in July, from more than 310,000t the previous month.Demand fell mostly because of a fall in base oils exports at a time when the European market faced a seasonal slowdown in lube consumption.Exports to the Mideast Gulf also fell, partially countering steady flows to Africa.The slowdown in demand prompted a rise in the Netherlands’ net supply to 40,000t in July. Supply had lagged demand in each of the previous two months.The surplus boosted the country’s total stocks to more than 175,000t in July. The volume was the highest in more than three years. .Netherlands’ July base oils supply rises