Global Supply Dynamics 1. Slight increase in global capacity in 2009 after growth of 1.4% in 2008 2. Asian capacity unchanged after 33% expansion in 2008 making Asia the largest base oil producer with ~32% of global capacity 3. Sharp decline in Group I capacity - Marathon & Citgo closed 825 kt of capacity in US. Kurnell in Australia closed (195 kt) 4. Closure of Sarnia and Montreal East in Canada announced 5. Rapid growth in premium base oil capacity, in particular in Asia 6. Asia's Group II capacity grew by 12% in 2008, Group III by 33% 7. On the drawing board - focus is now on new premium base oil capacity in USA, Russia, Middle East & South America 8. Production running well below capacity due to weaker lube market, production shifting to diesel production.
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