Thailand’s Group I base oils output recovered to more typical levels in February, boosting supply ahead of a seasonal rise in the country’s lube consumption in the month of March.Total base oils output of 58,000 kilolitres (51,400 tonnes) in February rose from an eleven-month low of 46,100 kilolitres the previous month, government data showed..The February volume moved closer to typical output levels of around 59,000 kilolitres/month in second-half 2024.Higher output contrasted with a slump in base oils production in Japan in February, as well as plant maintenance work on Indonesia’s sole Group I base oils unit that month.The dynamic boosted the importance of supplies from Thailand to help cover Group I base oils requirements in the domestic and regional markets.It also raised the prospect of magnifying the impact of planned maintenance work on Thailand’s Group I base oils units in May and during the third quarter of the year.Asia’s Group I base oils cargo prices held unusually firm in the first quarter of the year relative to gasoil prices, reflecting the tight supply fundamentals.Thailand’s base oils supply got a further boost from firm import volumes in February as shipments from South Korea rebounded to a six-month high.Higher domestic output and imports duly lifted the country’s total base oils supply to close to 86,000 kilolitres in February.The volume rose from less than 74,000 kilolitres the previous month to the highest since October..Japan’s February base oils output falls.China’s February base oils output mixed
Thailand’s Group I base oils output recovered to more typical levels in February, boosting supply ahead of a seasonal rise in the country’s lube consumption in the month of March.Total base oils output of 58,000 kilolitres (51,400 tonnes) in February rose from an eleven-month low of 46,100 kilolitres the previous month, government data showed..The February volume moved closer to typical output levels of around 59,000 kilolitres/month in second-half 2024.Higher output contrasted with a slump in base oils production in Japan in February, as well as plant maintenance work on Indonesia’s sole Group I base oils unit that month.The dynamic boosted the importance of supplies from Thailand to help cover Group I base oils requirements in the domestic and regional markets.It also raised the prospect of magnifying the impact of planned maintenance work on Thailand’s Group I base oils units in May and during the third quarter of the year.Asia’s Group I base oils cargo prices held unusually firm in the first quarter of the year relative to gasoil prices, reflecting the tight supply fundamentals.Thailand’s base oils supply got a further boost from firm import volumes in February as shipments from South Korea rebounded to a six-month high.Higher domestic output and imports duly lifted the country’s total base oils supply to close to 86,000 kilolitres in February.The volume rose from less than 74,000 kilolitres the previous month to the highest since October..Japan’s February base oils output falls.China’s February base oils output mixed
