Global base oils supply fell in September as a dip in output in Asia-Pacific and the Americas outweighed a pick-up in supplies in Europe.Base oils supply in the Americas, Europe and Asia markets combined fell to less than 2.0mn t in September, government and industry data showed. The volume fell from less than 2.10mn t the previous month and by 3pc from year-earlier levels.Including supplies from China and the Mideast Gulf, supply of more than 2.60mn t in September fell from close to 2.80mn t in August and for the third month in four from year-earlier levels.Total supply of more than 23.80mn t in the first nine months of the year edged down 2pc from more than 24.20mn t during the same period last year.The fall in supply in September contrasted with firmer lube consumption in the Americas, Europe, and Asia.Global base oils prices began a sustained rebound relative to feedstock and competing fuel prices from the end of the third quarter of the year, ICIS data showed.The recovery in base oils values coincided with the firmer supply-demand fundamentals..Americas’ Sept base oils supply falls.Europe’s Sept base oils supply rises.Asia’s September base oils supply falls.Base Oil News stories and analysis also available on ICIS platform
