The surplus of Asia-Pacific base oils supply over regional demand narrowed in June to a four-month low, curbing the size of any supply-build before the third quarter of the year.The surplus of supply over demand narrowed to less than 93,000t in June, from around 177,000t the previous month, government data showed.The smaller volume cut the surplus to 495,000t in the second quarter, down from almost 700,000t during the same period last year.Asia-Pacific base oils prices fell in third-quarter 2022 as refiners moved to clear the build-up of surplus supplies.Regional prices were steadier in the third quarter of this year amid more balanced supply-demand fundamentals. The surplus of Asia’s base oils supply over the region’s exports also narrowed to a four-month low in June, adding to signs of more manageable inventories..Asia’s June lube demand rises
