Asia’s base oils supply surplus over regional demand fell to a three-month low in May as stronger-than-expected lube consumption outweighed steady output.The surplus of supply over demand fell to around 185,000t in May, down from close to 225,000t the previous month.The surplus of supply over Asia-Pacific base oils exports by contrast widened to more than 300,000t in May, up from less than 245,000t the previous month.The widening surplus of supply over exports coincided with regional plant maintenance work. Refiners typically build stocks to cover commitments during the shutdowns.The narrower supply surplus over demand reflected the need for those additional supplies to cover the firmer demand requirements. .Asia’s May base oils supply edges up .Base Oil News stories and analysis also available on ICIS platform
