The UK’s base oils supply exceeded demand by the largest volume in 28 months in April in the face of more muted domestic and overseas consumption.The surplus of supply over demand rose to more than 17,000t in April, government data showed.The surplus was the largest since late 2020. Supply had lagged demand in February and March.The rise in surplus supply followed a pick-up in domestic base oils output to a five-month high in April.Higher base oils output coincided with a recovery in regional base oils prices relative to crude and diesel during the first quarter of the year.It also coincided with the prospect of a seasonal improvement in lube demand throughout Europe. The seasonal pick-up in regional lube demand was weaker than usual..UK's April base oils supply rises
