India’s base oils supply rose to an eight-month high in November as steady domestic output added to a rebound in imports.Total production of 117,000t in November fell from 124,000t the previous month but still rose by 1pc from year-earlier levels, government data showed.The sustained rise in production lifted total output to 1.43mn t in the first eleven months of the year, up 25pc from 1.14mn t during the same period a year earlier.Output got a boost from a rise in India’s refinery production to record-high levels last year.Discounted feedstock costs boosted the attraction of increasing refined products and base oils output.India’s base oils output is set to get a further boost as new production capacity starts to come on-line in the coming months.The expected rise in output is likely to outpace India’s growing lube consumption. Demand for premium-grade base oils from overseas markets is likely to fall in response.Any such dynamic would force overseas refiners to find alternative outlets instead.India’s total supply, or domestic output and imports combined, rose to almost 470,000t in November.The volume rose from 401,000t in October to the highest since last March..India’s Nov base oils imports rise
India’s base oils supply rose to an eight-month high in November as steady domestic output added to a rebound in imports.Total production of 117,000t in November fell from 124,000t the previous month but still rose by 1pc from year-earlier levels, government data showed.The sustained rise in production lifted total output to 1.43mn t in the first eleven months of the year, up 25pc from 1.14mn t during the same period a year earlier.Output got a boost from a rise in India’s refinery production to record-high levels last year.Discounted feedstock costs boosted the attraction of increasing refined products and base oils output.India’s base oils output is set to get a further boost as new production capacity starts to come on-line in the coming months.The expected rise in output is likely to outpace India’s growing lube consumption. Demand for premium-grade base oils from overseas markets is likely to fall in response.Any such dynamic would force overseas refiners to find alternative outlets instead.India’s total supply, or domestic output and imports combined, rose to almost 470,000t in November.The volume rose from 401,000t in October to the highest since last March..India’s Nov base oils imports rise
