Thailand’s lube demand rose to a one-year high in March on the back of a seasonal pick-up in consumption.The size of the increase was smaller than usual as consumption fell from year-earlier levels for the first time in eight months. The smaller-than-usual seasonal rise in demand coincided with a sharp recovery in Thailand’s base oils production in March.The disconnect raised the prospect of a faster rise in surplus base oils supplies and the need to clear those volumes through the export market.Any such pick-up in Thailand’s Group I base oils exports over the coming months would be a welcome development in a region that faced persistently tight availability of the product in recent months.Thailand’s lube consumption of 43,400 kilolitres (38,500 tonnes) in March fell by 10% from year-earlier levels, government data showed.The slowdown cut the size of the rise in consumption from February to less than 3,500 kilolitres.The volume contrasted with a rise in demand of more than 8,600 kilolitres in March 2023 from the previous month.Demand slowed mostly because of a slump in consumption of engine oils, and especially passenger-car motor oils.PTT Oil and Retail was Thailand’s largest lube supplier in March even as its share of total sales fell. Shell Company of Thailand was the second largest.A slower rise in Thailand’s lube demand duly cut blenders’ base oils requirements.Domestic base oils sales in March were the highest in a year, mirroring the country’s higher lube consumption. But they were 17% lower than year-earlier levels.Slower base oils demand contrasted with a recovery in Thailand’s base oils output in March to a seven-month high of 56,400 kilolitres. The volume was also up more than 13,700 kilolitres from the previous month.The surplus of base oils production over domestic sales duly rose in March to a seven-month high of 42,000 kilolitres..Thailand’s March base oils supply rises
Thailand’s lube demand rose to a one-year high in March on the back of a seasonal pick-up in consumption.The size of the increase was smaller than usual as consumption fell from year-earlier levels for the first time in eight months. The smaller-than-usual seasonal rise in demand coincided with a sharp recovery in Thailand’s base oils production in March.The disconnect raised the prospect of a faster rise in surplus base oils supplies and the need to clear those volumes through the export market.Any such pick-up in Thailand’s Group I base oils exports over the coming months would be a welcome development in a region that faced persistently tight availability of the product in recent months.Thailand’s lube consumption of 43,400 kilolitres (38,500 tonnes) in March fell by 10% from year-earlier levels, government data showed.The slowdown cut the size of the rise in consumption from February to less than 3,500 kilolitres.The volume contrasted with a rise in demand of more than 8,600 kilolitres in March 2023 from the previous month.Demand slowed mostly because of a slump in consumption of engine oils, and especially passenger-car motor oils.PTT Oil and Retail was Thailand’s largest lube supplier in March even as its share of total sales fell. Shell Company of Thailand was the second largest.A slower rise in Thailand’s lube demand duly cut blenders’ base oils requirements.Domestic base oils sales in March were the highest in a year, mirroring the country’s higher lube consumption. But they were 17% lower than year-earlier levels.Slower base oils demand contrasted with a recovery in Thailand’s base oils output in March to a seven-month high of 56,400 kilolitres. The volume was also up more than 13,700 kilolitres from the previous month.The surplus of base oils production over domestic sales duly rose in March to a seven-month high of 42,000 kilolitres..Thailand’s March base oils supply rises
