The UK’s base oils supply outpaced demand in July for the third time in four months as a slump in exports coincided with a rebound in base oils production.Total supply, or domestic production and imports combined, rose to more than 59,000t in July, government data showed.Supply recovered from a twenty-one-month low of less than 47,000t the previous month and held closer to more typical levels over the past year.Demand, or domestic consumption and exports combined, fell to around 31,000t in July, from more than 75,000t the previous month.The July volume was a three-year low, reversing a surge in demand to a forty-one-month high in June.The surplus of supply over demand rose in response to close to 28,000t in July.The size of the surplus was the highest since 2018..UK’s July base oils exports slump
