Volume 2 Issue 12
The United States markets are largely stable but will be tested over the next week or so due to the American Fuel and Petrochemical Manufacturers event in San Antonio, Texas. European demand has improved somewhat, whereas that of Asia has declined slightly.-by Adrian Brown
United States base oil producers made hay while the sun shined last year, taking advantage of a lack of disruptions to churn out 67.3 million barrels - the highest volume in two decades, according to newly released government data.
Regional imbalances in base oil supply and demand lead to large volumes being shipped all over the globe. The pattern of that trade continually shifts as capacity in different regions evolves.
The United States energy demand is projected to remain essentially flat out to 2040, down just 1 percent, and Brazils is expected to increase 2.2 percent, according to the 2019 BP Energy Outlook.