Japan’s base oils and lube demand rose in November for the fourth time in five months, contrasting with a sustained fall in the country’s base oils production.Base oils and lube consumption of 158,400 kilolitres (140,300t) in November rose by 2pc from year-earlier levels, government data showed.Total consumption of 1.63mn kl in the first eleven months of the year rose by 1pc from year-earlier levels.The rise in demand contrasted with a 6pc fall in Japan’s base oils output in the first eleven months of the year.The contrasting trends cut the surplus of base oils output over domestic demand to 557,000kl in the first eleven months of the year.The volume was down 22pc from more than 717,000kl during the same period the previous year.The 28,000kl surplus of production over demand in November was the smallest since first-half 2021.Rising demand magnified the impact of Japan's shrinking base oils production and increased the need for more imports to cover blenders’ requirements.That trend was likely to benefit refiners in South Korea especially.Japan’s consumption of heavy-duty engine oils rose in October for the third time in four months, and other industrial oils for the first time in fourteen months.The firmer demand coincided with signs of steadier industrial production in Japan, following a sharp slowdown in the third quarter of the year..Japan’s November base oils supply falls
Japan’s base oils and lube demand rose in November for the fourth time in five months, contrasting with a sustained fall in the country’s base oils production.Base oils and lube consumption of 158,400 kilolitres (140,300t) in November rose by 2pc from year-earlier levels, government data showed.Total consumption of 1.63mn kl in the first eleven months of the year rose by 1pc from year-earlier levels.The rise in demand contrasted with a 6pc fall in Japan’s base oils output in the first eleven months of the year.The contrasting trends cut the surplus of base oils output over domestic demand to 557,000kl in the first eleven months of the year.The volume was down 22pc from more than 717,000kl during the same period the previous year.The 28,000kl surplus of production over demand in November was the smallest since first-half 2021.Rising demand magnified the impact of Japan's shrinking base oils production and increased the need for more imports to cover blenders’ requirements.That trend was likely to benefit refiners in South Korea especially.Japan’s consumption of heavy-duty engine oils rose in October for the third time in four months, and other industrial oils for the first time in fourteen months.The firmer demand coincided with signs of steadier industrial production in Japan, following a sharp slowdown in the third quarter of the year..Japan’s November base oils supply falls
