The UK’s base oils supply rose to a five-month high in August on the back of higher domestic output and steady imports.The rise in supply contrasted with a dip in demand and subsequent jump in surplus volumes..The rise in output added to a pick-up in Europe’s Group I base oils supply at a time of year when demand faced a seasonal slowdown.The UK's base oils output of more than 33,000 tonnes in August rose from less than 20,000 tonnes the previous month to the highest since March, government data showed..The rise in output lifted the UK’s total supply to more than 60,000 tonnes in August. The volume outpaced demand of less than 45,000 tonnes.The surplus of more than 17,000 tonnes in August would have been even higher but for an unusually large shipment to Singapore that month..Any repeat of such large shipments to Singapore could be less frequent following the start-up of a new Group II base oils unit in the island-state in September.Any such slowdown in flows to that market would force supplies from the UK to target other outlets instead..Europe's August Group II supply rises.UK’s July base oils output falls
