Asia’s August base oils supply rises

Base oils supply in the Asia-Pacific region recovered to a five-month high in August mostly because of a pick-up in output in South Korea.

Total base oils supply of more than 965,000t in August rose from less than 870,000t the previous month, government and industry data showed.

Supply rose from year-earlier levels for the first time in five months.

The pick-up in output lifted total supply to more than 7.50mn t in the first eight months the year. The volume was almost the same as year-earlier levels.

Supply rose mostly because of a rebound in South Korea’s base oils output following the completion of plant maintenance work in the country in July.

The higher output countered a slowdown in base oils production in other markets like Japan and India.

Including China, Asia’s total supply of more than 1.32mn t in August rose by more than 100,000t from the previous month.