Indonesia’s Feb base oils imports rise

Indonesia’s base oils imports rose to an eleven-month high in February, adding to signs of firm demand throughout southeast Asia.

Imports of 51,280t in February rebounded from 36,680t the previous month, government data showed. The volume was the highest since March 2022.

The rise in shipments lifted total imports from Indonesia, Thailand and Vietnam combined to more than 93,000t in February.

The volume rose from less than 72,000t in January to a five-month high.

The rise in imports replenished blenders’ stocks, curbing their urgency to procure additional volumes.