China’s base oils output rose to a twenty-month high in November on the back of higher Group I and Group II production.Total paraffinic base oils output of more than 420,000t in November rose from less than 415,000t the previous month, OilChem China data showed.Output rose by 29pc and for the seventh time in eight months from year-earlier levels.The rise in production lifted total output to 4.02mn t in the first eleven months of the year, up from 3.95mn t during the same period last year.Output remained down from close to 6.0mn t in the first eleven months of 2021.The higher output in November followed a rise in domestic Group II base oils values versus domestic diesel prices from the start of the fourth quarter of the year.The rise in domestic supply, and still-cautious demand, raised the prospect of limiting requirements for supplies from regional refiners..China’s Nov Grp II base oils output rises
China’s base oils output rose to a twenty-month high in November on the back of higher Group I and Group II production.Total paraffinic base oils output of more than 420,000t in November rose from less than 415,000t the previous month, OilChem China data showed.Output rose by 29pc and for the seventh time in eight months from year-earlier levels.The rise in production lifted total output to 4.02mn t in the first eleven months of the year, up from 3.95mn t during the same period last year.Output remained down from close to 6.0mn t in the first eleven months of 2021.The higher output in November followed a rise in domestic Group II base oils values versus domestic diesel prices from the start of the fourth quarter of the year.The rise in domestic supply, and still-cautious demand, raised the prospect of limiting requirements for supplies from regional refiners..China’s Nov Grp II base oils output rises
