US base oil markets face higher costs, balanced-to-snug supplies as demand recovery begins

摘要

HOUSTON (ICIS)--US base oil market players entered the second half of 2020 facing upward price pressure from firm costs and balanced-to-snug supplies -bullish factors that were offset by ongoing demand weakness downstream. The only certainties appeared to be that higher upstream prices were holding steady and that the base oil supply overhang had been reduced through exports and lower refinery rates.