Asian, Euro, and Middle Eastern base oil prices rise on higher crude, tight supply

摘要

In Asia tight supplies are stemming from upsets at a number of base oil production facilities, feedstock issues, and planned maintenance at one lube production facility in Malaysia and two lube production facilities in South Korea at the end of 1Q. The supply crunch is especially noticeable for light-grade (Group I SN150 and Group II 150N) and heavy (Group II 500/600N) base oils, though there is said to be more heavy-grade supply relative to light-grade. In addition to the tight supply picture, higher crude prices are also supporting base oil prices in the region.