China’s Group II base oils output rose to a twenty-month high in November, curbing the country’s need for more supplies from overseas markets.The country’s Group II base oils output rose to more than 300,000t in November, OilChem China data showed.The volume rose from less than 285,000t the previous month and by 25pc from year-earlier levels.The rise in production lifted China’s total Group II base oils output to almost 3mn t in the first eleven months of the year and to more than 1.4mn t so far in second-half 2023.The volume was down from close to 3.10mn t during the same eleven-month period last year. It was up from less than 1.25mn t during the five months to November 2022.The rise in output in November coincided with a rebound in China’s domestic Group II base oil price premium to diesel prices.It followed a slump in China’s base oils imports in October..China’s Oct base oils imports fall
China’s Group II base oils output rose to a twenty-month high in November, curbing the country’s need for more supplies from overseas markets.The country’s Group II base oils output rose to more than 300,000t in November, OilChem China data showed.The volume rose from less than 285,000t the previous month and by 25pc from year-earlier levels.The rise in production lifted China’s total Group II base oils output to almost 3mn t in the first eleven months of the year and to more than 1.4mn t so far in second-half 2023.The volume was down from close to 3.10mn t during the same eleven-month period last year. It was up from less than 1.25mn t during the five months to November 2022.The rise in output in November coincided with a rebound in China’s domestic Group II base oil price premium to diesel prices.It followed a slump in China’s base oils imports in October..China’s Oct base oils imports fall
