Thailand’s surplus of base oils supply over demand rose to an eleven-month high in July as steady exports were insufficient to counter a slump in domestic demand.Total base oils supply, or output and imports combined, came to around 82,000 kilolitres (72,700t) in July, government data showed.The volume fell from a three-month high of more than 85,000kl the previous month.The country’s base oils demand, or domestic consumption and exports combined, fell to less than 64,000kl in July.The volume fell from more than 72,000kl in June to an eight-month low.Demand fell even as a wave of arbitrage shipments to Mideast Gulf and India continued to support higher export volumes.Lower demand triggered a rise in Thailand’s base oils supply surplus to more than 18,000kl in July. The volume rose from close to 13,000kl in June to the highest since last August.Supply had previously lagged or matched demand in the first five months of the year..Thailand July base oil exports hold firm
Thailand’s surplus of base oils supply over demand rose to an eleven-month high in July as steady exports were insufficient to counter a slump in domestic demand.Total base oils supply, or output and imports combined, came to around 82,000 kilolitres (72,700t) in July, government data showed.The volume fell from a three-month high of more than 85,000kl the previous month.The country’s base oils demand, or domestic consumption and exports combined, fell to less than 64,000kl in July.The volume fell from more than 72,000kl in June to an eight-month low.Demand fell even as a wave of arbitrage shipments to Mideast Gulf and India continued to support higher export volumes.Lower demand triggered a rise in Thailand’s base oils supply surplus to more than 18,000kl in July. The volume rose from close to 13,000kl in June to the highest since last August.Supply had previously lagged or matched demand in the first five months of the year..Thailand July base oil exports hold firm
