Thailand’s base oils supply lagged demand in November for the third time in four months, limiting any supply-build before year-end.The more limited surplus supply curbed the need for the country’s refiners to offer export cargoes at more competitive prices during the final weeks of last year.It also limited Thailand’s ability to cover for any pick-up in demand for Group I base oils in the Asia-Pacific region following the closure of a Group I plant in Japan in October.Thailand’s base oils supply, or domestic production and imports combined, rose to close to 80,000 kilolitres (71,000t) in November, government data showed.The volume rose from around 71,000kl in October to a four-month high.Supply rose mostly because of a pick-up in the country’s base oils imports.Thailand’s base oils demand, or domestic consumption and base oils exports combined, rebounded to almost 83,000kl in November, up from 68,000kl the previous month.Consumption got a boost from firm domestic and overseas demand.Demand exceeded supply by close to 3,000kl in November. It had lagged supply by a similar volume in October..Thailand’s Nov base oils supply rises.Thailand’s November lube demand rises
Thailand’s base oils supply lagged demand in November for the third time in four months, limiting any supply-build before year-end.The more limited surplus supply curbed the need for the country’s refiners to offer export cargoes at more competitive prices during the final weeks of last year.It also limited Thailand’s ability to cover for any pick-up in demand for Group I base oils in the Asia-Pacific region following the closure of a Group I plant in Japan in October.Thailand’s base oils supply, or domestic production and imports combined, rose to close to 80,000 kilolitres (71,000t) in November, government data showed.The volume rose from around 71,000kl in October to a four-month high.Supply rose mostly because of a pick-up in the country’s base oils imports.Thailand’s base oils demand, or domestic consumption and base oils exports combined, rebounded to almost 83,000kl in November, up from 68,000kl the previous month.Consumption got a boost from firm domestic and overseas demand.Demand exceeded supply by close to 3,000kl in November. It had lagged supply by a similar volume in October..Thailand’s Nov base oils supply rises.Thailand’s November lube demand rises
