European base oil buyers are still reticent to purchase large quantities of any type of base stock – even to replenish inventories that must be sorely depleted. Buyers will just not commit to taking large parcels but continue purchasing on an as-needed basis in trucks and small barge parcels.
The normal seasonal pick-up in trade has yet to start, and some players are commenting that it may simply not happen this year. Demand for finished lubricants is abysmal, with many blenders opting for a shorter working week and producing lower quantities than in memory.
Base Oil Pricing Report Base Stocks Market Topics Other