Pakistan’s base oils output fell in February for the seventh time in eight months, leaving blenders increasingly reliant on imports to cover improving demand.A surge in shipments from South Korea last year covered a growing share of those import requirements, mostly at the expense of supplies from Singapore.That dynamic showed signs of changing early this year amid a pick-up in flows from Singapore and slowdown in shipments from South Korea.The Asia market faces the prospect of a surge in India’s base oils production capacity over the coming year, in addition to China’s growing self-sufficiency.The trend makes markets like Pakistan increasingly important for export-oriented base oils suppliers like South Korea and Singapore.Pakistan’s base oils output of less than 7,000 tonnes in February fell from more than 10,600 tonnes in January and by 28% from year-earlier levels.Output trended lower since the middle of last year even as Pakistan’s lube consumption recovered throughout most of that period.Lube demand could get further support from signs of steadying automobile sales, which rose in March for the first time in six months.The country’s large-scale manufacturing industries saw growth in February for a third straight month from year-earlier levels.A pick-up in base oils imports since second-half 2023 covered for the drop in output and firmer demand.Imports of more than 20,000 tonnes in February rose from year-earlier levels for the fifth time in six months.Singapore was Pakistan’s largest base oils supplier in February for the first time in fifteen months.Shipments from South Korea had accounted for the largest volume during the previous fourteen months.The prospect of a rise in Singapore’s base oils production capacity in 2025 boosted the attraction of increasing shipments to markets like Pakistan.Pakistan’s total base oils supply, or domestic output and imports combined, came to 27,000 tonnes in February.Supply rose from year-earlier levels for a second month, after previously falling for five straight months to December..S Korea’s March base oils exports rise .Singapore’s March exports improve
Pakistan’s base oils output fell in February for the seventh time in eight months, leaving blenders increasingly reliant on imports to cover improving demand.A surge in shipments from South Korea last year covered a growing share of those import requirements, mostly at the expense of supplies from Singapore.That dynamic showed signs of changing early this year amid a pick-up in flows from Singapore and slowdown in shipments from South Korea.The Asia market faces the prospect of a surge in India’s base oils production capacity over the coming year, in addition to China’s growing self-sufficiency.The trend makes markets like Pakistan increasingly important for export-oriented base oils suppliers like South Korea and Singapore.Pakistan’s base oils output of less than 7,000 tonnes in February fell from more than 10,600 tonnes in January and by 28% from year-earlier levels.Output trended lower since the middle of last year even as Pakistan’s lube consumption recovered throughout most of that period.Lube demand could get further support from signs of steadying automobile sales, which rose in March for the first time in six months.The country’s large-scale manufacturing industries saw growth in February for a third straight month from year-earlier levels.A pick-up in base oils imports since second-half 2023 covered for the drop in output and firmer demand.Imports of more than 20,000 tonnes in February rose from year-earlier levels for the fifth time in six months.Singapore was Pakistan’s largest base oils supplier in February for the first time in fifteen months.Shipments from South Korea had accounted for the largest volume during the previous fourteen months.The prospect of a rise in Singapore’s base oils production capacity in 2025 boosted the attraction of increasing shipments to markets like Pakistan.Pakistan’s total base oils supply, or domestic output and imports combined, came to 27,000 tonnes in February.Supply rose from year-earlier levels for a second month, after previously falling for five straight months to December..S Korea’s March base oils exports rise .Singapore’s March exports improve
