· US gasoline demand rises in mid-June for thirteenth week..· US blenders set to spend Atlantic hurricane season holding lower inventories as prospect of weaker-than-usual lube demand, expectations of ready availability of supply and high interest rates deter stock-building.· Lack of supply-buffer in case of weather-related disruptions over coming months would increase impact of any such supply disruptions.· Latin America’s lube demand shows signs of holding steadier than other regions in Q2 2023.· Latin America’s lube demand likely to fall in Q3 2023, adding to slower consumption in other regions..· Slower economic growth likely to compound seasonal slowdown in demand, add to blenders’ preference to hold lower lubricants and base oils stocks.· Slowdown in lube demand in Q3 2023 would follow completion of plant maintenance work in US.· Slowdown in lube demand likely to reflect more a structural slowdown rather than moves by blenders to hold back as lower base oils prices, refiners’ more balanced supply ease concern about steeper price-drop.· South Korea’s exports to Latin America fall in May to five-month low as more competitive US prices boost attraction of procuring supplies from that market instead.· Europe’s May automobile sales rise for tenth month, mirroring similarly-long rebound in US auto sales as vehicle availability improves..· Speed of fall in France’s April lube demand stays unusually steep, adding to sustained regionwide slowdown in consumption..· Fall in France’s lube demand concentrated mostly on industry-related lubricants.· Germany’s lube supply extends year-on-year slowdown in Q1, while surplus over demand rises to highest since Q2 2022..· Germany's falling lube supply and demand, and rising supply surplus over demand, deters blenders from building base oils inventories.· Europe’s lube demand set to extend fall through Q3 2023 amid seasonal and economic slowdown..· Prospect of slower demand and high interest rates incentivize blenders to maintain lower stocks.· Demand faced additional downward pressure in Q3-Q4 2022 as blenders sought to clear overhang of lubricants and base oils supplies that they procured in 1H 2022.· Demand likely to avoid that kind of downward pressure in 2H 2023 amid blenders’ more balanced inventories.· Nigeria takes delivery of swathe of arbitrage shipments in Q2 2023, with surge in shipments from Europe/Baltic region in April..· Rise in flows from Europe to Nigeria unlikely to repeat itself anytime soon.· Drop in surplus shipments from Europe cuts competition for other suppliers eyeing Nigeria as outlet for surplus volumes, such as US..Asia base oils – week of June 26: Demand outlook.Contact us for more information about the data for these stories
· US gasoline demand rises in mid-June for thirteenth week..· US blenders set to spend Atlantic hurricane season holding lower inventories as prospect of weaker-than-usual lube demand, expectations of ready availability of supply and high interest rates deter stock-building.· Lack of supply-buffer in case of weather-related disruptions over coming months would increase impact of any such supply disruptions.· Latin America’s lube demand shows signs of holding steadier than other regions in Q2 2023.· Latin America’s lube demand likely to fall in Q3 2023, adding to slower consumption in other regions..· Slower economic growth likely to compound seasonal slowdown in demand, add to blenders’ preference to hold lower lubricants and base oils stocks.· Slowdown in lube demand in Q3 2023 would follow completion of plant maintenance work in US.· Slowdown in lube demand likely to reflect more a structural slowdown rather than moves by blenders to hold back as lower base oils prices, refiners’ more balanced supply ease concern about steeper price-drop.· South Korea’s exports to Latin America fall in May to five-month low as more competitive US prices boost attraction of procuring supplies from that market instead.· Europe’s May automobile sales rise for tenth month, mirroring similarly-long rebound in US auto sales as vehicle availability improves..· Speed of fall in France’s April lube demand stays unusually steep, adding to sustained regionwide slowdown in consumption..· Fall in France’s lube demand concentrated mostly on industry-related lubricants.· Germany’s lube supply extends year-on-year slowdown in Q1, while surplus over demand rises to highest since Q2 2022..· Germany's falling lube supply and demand, and rising supply surplus over demand, deters blenders from building base oils inventories.· Europe’s lube demand set to extend fall through Q3 2023 amid seasonal and economic slowdown..· Prospect of slower demand and high interest rates incentivize blenders to maintain lower stocks.· Demand faced additional downward pressure in Q3-Q4 2022 as blenders sought to clear overhang of lubricants and base oils supplies that they procured in 1H 2022.· Demand likely to avoid that kind of downward pressure in 2H 2023 amid blenders’ more balanced inventories.· Nigeria takes delivery of swathe of arbitrage shipments in Q2 2023, with surge in shipments from Europe/Baltic region in April..· Rise in flows from Europe to Nigeria unlikely to repeat itself anytime soon.· Drop in surplus shipments from Europe cuts competition for other suppliers eyeing Nigeria as outlet for surplus volumes, such as US..Asia base oils – week of June 26: Demand outlook.Contact us for more information about the data for these stories
