India’s base oils supply lagged demand in August for the first time in five months, eroding blenders’ stocks ahead of a seasonal pick-up in demand from the end of the third quarter of the year.Base oils supply, or domestic production and imports combined, came to around 350,000t in August, government and customs data showed. The volume was the lowest in eight months.Base oils and lube demand, or domestic consumption and exports combined, rose to a five-month high of more than 380,000t in August.Net supply flipped in response to a shortfall of around 30,000t. Supply had exceeded demand by more than 100,000t the previous month.Supply is likely to be impacted in September because of scheduled plant maintenance work in India. A pick-up in supplies from South Korea is likely to cushion the impact of a drop in arbitrage shipments from the US.Demand typically rises after the monsoon season ends and during a wave of festivals in India over the coming months. .India’s August lube demand rises. India’s August base oils imports fall
India’s base oils supply lagged demand in August for the first time in five months, eroding blenders’ stocks ahead of a seasonal pick-up in demand from the end of the third quarter of the year.Base oils supply, or domestic production and imports combined, came to around 350,000t in August, government and customs data showed. The volume was the lowest in eight months.Base oils and lube demand, or domestic consumption and exports combined, rose to a five-month high of more than 380,000t in August.Net supply flipped in response to a shortfall of around 30,000t. Supply had exceeded demand by more than 100,000t the previous month.Supply is likely to be impacted in September because of scheduled plant maintenance work in India. A pick-up in supplies from South Korea is likely to cushion the impact of a drop in arbitrage shipments from the US.Demand typically rises after the monsoon season ends and during a wave of festivals in India over the coming months. .India’s August lube demand rises. India’s August base oils imports fall
