Pakistan’s base oil imports fell in March to their lowest in a year, cutting the country’s supply of the lubricant feedstock.Steady domestic base oils production and weaker lube demand cushioned the impact of the slowdown.Imports of less than 10,500t in March dipped by more than half from more than 21,500t the previous month to the lowest since March 2021, provisional customs data showed..Even with the drop in supplies, imports of 78,980t in the first three months of the year rose from less than 67,000t in the fourth quarter of last year to the highest quarterly level since late 2020.Supply also got a boost from a pick-up in domestic production in March to more than 15,000t. The volume was the highest in more than four months.The country’s lube consumption also slowed in March from year-earlier levels for a third straight month amid a slump in demand for transport lubricants.The fall in March imports mostly reflected a drop in supplies from South Korea to a 10-month low of less than 3,000t. Shipments from Singapore fell to a five-month low of less than 2,000t..Pakistan’s February base oil imports fall.Base Oil News stories and analysis also available on ICIS platform
