Thailand’s lube demand fell in October for a third month, at the same time as the country’s base oils output rose.The diverging trends freed up more Group I base oils supplies for shipment to overseas markets.The Asia-Pacific market struggled with tight supply of Group I base oils throughout this year.The simultaneous pick-up in availability from Thailand and Japan, as well as a steady flow of imports from more distant markets, could start to ease that tightness.Thailand’s lube consumption of 37,860 kilolitres (33,500 tonnes) in October fell by 4% from year-earlier levels, government data showed.The pace of the contraction slowed from more than 12% in each of the previous two months.The more muted slowdown coincided with signs of still-firm economic growth in the country.Engine oils consumption fell by 6% from year-earlier levels in October, after dipping by more than 14% in August and September.Consumption of other lubricants fell by 2% in October, with the pace of the slowdown easing from an 11% contraction the previous month.PTT Oil and Retail was Thailand’s largest lube supplier in October for a third month, with Shell Company of Thailand the second largest and PSP Specialties the third largest.Lower lube consumption cut requirements for Group I base oils supplies from Thailand’s refiners.Demand for Group I supplies still fell even more steeply than the drop in lube consumption, adding further to the pick-up in surplus supply.Thailand’s surplus Group I supply, or production less domestic demand, duly rose to more than 49,000 kilolitres in October. The volume rose from less than 42,000 kilolitres in September to a fifteen-month high.The rise in surplus supply freed up more volumes for the export market.Total shipments of more than 24,500 kilolitres in October duly rebounded from less than 13,000 kilolitres in September to close to their highest level in more than a year.Singapore especially, as well as China, were the main destination for the supplies..Thailand’s Oct base oils supply rises
Thailand’s lube demand fell in October for a third month, at the same time as the country’s base oils output rose.The diverging trends freed up more Group I base oils supplies for shipment to overseas markets.The Asia-Pacific market struggled with tight supply of Group I base oils throughout this year.The simultaneous pick-up in availability from Thailand and Japan, as well as a steady flow of imports from more distant markets, could start to ease that tightness.Thailand’s lube consumption of 37,860 kilolitres (33,500 tonnes) in October fell by 4% from year-earlier levels, government data showed.The pace of the contraction slowed from more than 12% in each of the previous two months.The more muted slowdown coincided with signs of still-firm economic growth in the country.Engine oils consumption fell by 6% from year-earlier levels in October, after dipping by more than 14% in August and September.Consumption of other lubricants fell by 2% in October, with the pace of the slowdown easing from an 11% contraction the previous month.PTT Oil and Retail was Thailand’s largest lube supplier in October for a third month, with Shell Company of Thailand the second largest and PSP Specialties the third largest.Lower lube consumption cut requirements for Group I base oils supplies from Thailand’s refiners.Demand for Group I supplies still fell even more steeply than the drop in lube consumption, adding further to the pick-up in surplus supply.Thailand’s surplus Group I supply, or production less domestic demand, duly rose to more than 49,000 kilolitres in October. The volume rose from less than 42,000 kilolitres in September to a fifteen-month high.The rise in surplus supply freed up more volumes for the export market.Total shipments of more than 24,500 kilolitres in October duly rebounded from less than 13,000 kilolitres in September to close to their highest level in more than a year.Singapore especially, as well as China, were the main destination for the supplies..Thailand’s Oct base oils supply rises
