Spain’s domestic base oils supply fell to a two-year low in June as maintenance work on a Group III base oils unit coincided with lower output of Group I supplies.
Total base oils supply fell to less than 50,000t in June, government and port data showed. The volume fell from already-low levels of less than 60,000t in May.
The slowdown cut total supply to around 179,000t in the second quarter, down from more than 267,000t during the first three months of the year.
Supplies of Group III base oils slumped in June because of plant maintenance work that began in May.
Output of Group I base oils fell to less than 22,500t in June, down from close to 27,000t in May and from average levels of more than 27,000 t/month over the past year.
The fall in output coincided with a slump in Italy’s Group I base oils output in June.
